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Bolivia’s International Reserves soar in 1Q 2024

La Paz, May 2 (Prensa Latina) Bolivia's International Reserves (RIN) reached USD$1.7 billion on April 30, and ramped up by USD$88 million compared to the same term in 2023, an official source confirmed.

“The RIN’s level as of April 30 at the current management, remained stable and reaches a level of USD$ 1.7 billion, registering even an upturn of USD$ 88 million with respect to the last management”, CEO of the Central Bank of Bolivia (BCB) Edwin Rojas assured.

The authority explained at a press conference that RIN´s level is conditioned by the internal and external contexts (wars and price instability).

Rojas said that within the country, the economy faced the lower production capacity of hydrocarbons and the El Niño climatic phenomenon, which triggered losses in agriculture, mainly in the cultivation of soybeans.

Other damages were the road blockades at the onset of the year and the failure of the Plurinational Legislative Assembly (ALP) to approve foreign loans.

However, Rojas noted that in 1Q 2024, RIN´s level has remained stable, and if we compare it with the end of 2023, even an increase can be seen.