The credit freeze in Bolivia has caused fuel supply shortages, with Minister Prada attributing this to the non-approval of necessary credits by legislators. He reported a reversal of financial trends since 2023, leading to significant deficits in foreign currency for hydrocarbon imports. The minister urged lawmakers to address their responsibilities and support measures needed to resolve the crisis.
In Bolivia, the ongoing credit freeze has adversely impacted hydrocarbon imports, resulting in fuel shortages. Minister Prada emphasized that some assembly members incorrectly state that there are no credits tied to fuel purchases, misleading the public. He criticized legislators for not approving necessary credits, which has disrupted the flow of dollars essential for fuel procurement.
Minister Prada highlighted that the long queues at fueling stations serve to distract from the legislature’s accountability in managing foreign currency flow. He also noted that fuel imports have been hindered due to the lack of financial provisions, affecting diesel and gasoline availability. The minister reminded elected officials that loan management is crucial for fulfilling the population’s needs as stipulated by Supreme Decree 29236.
Historically, loan disbursements in Bolivia have exceeded external debt service payments, ensuring ample foreign currency for fuel imports. However, since 2023, the scenario has shifted dramatically, with the government receiving only $1.126 billion in loans but needing to repay over $1.491 billion. The situation worsened in 2024, with only $674 million in received funds against $1.526 billion in payments, leading to a critical supply gap for fuel.
Minister Prada expressed concern for the populace, stating that the foreign currency shortage impacts citizens. He urged legislators to fulfill their responsibilities by approving essential loans. Addressing politicians who criticize the government ahead of the upcoming elections on August 17, he implored them to be honest in their discourse regarding the economic situation. He reiterated that the national government is committed to implementing measures to address the hydrocarbon supply crisis.
In summary, the credit freeze in Bolivia has significantly hindered fuel imports, leading to shortages that affect citizens. Minister Prada has called out legislators for their lack of action in approving essential credits, which has led to a deficit in foreign currency. Historical trends show a stark reversal in financial disbursement versus debt payments, necessitating immediate governmental and legislative action to alleviate the current fuel supply crisis.
Original Source: www.plenglish.com
