Bolivia uses the World Bank and the IMF to hold social bonds for COVID-19

Bolivia will resort to international organizations such as the World Bank (WB) and the International Monetary Fund (IMF) to cover the issuance of different social bonds destined to contain emergencies by COVID-19.

"A good part of the bonds are being negotiated with the World Bank", while "320 million dollars are being requested from the International Monetary Fund, without any kind of condition," said the interim minister of economy of Bolivia this Thursday, José Luis Parada, at a press conference in La Paz.

The authority explained that this is a measure that several countries in the Latin American region are taking through their Economy portfolios, given that "no country" is prepared to run the costs of the coronavirus pandemic on its own.

This situation has been "demonstrated" through various virtual meetings in which the heads of the Economy of different countries in the region recently held with the representatives of international organizations, he commented.

The acting minister stressed that international financing entities such as the World Bank and the IMF are "aware of all this demand from all the ministers of economy of Latin America" ​​and the need of the countries to resort to credits and donations.

Bolivia will have around 574 million dollars to pay different emergency social bonds due to the pandemic, which are expected to benefit a large part of the population that lacks a fixed income, the elderly, primary and secondary students, and women pregnant women.

Added to this is an amount of money allocated by the transitional government for families with fewer resources, so that they can pay for basic food expenses.

"What the Government is doing is resorting to all the resources that the law grants it," said Parada, who specified that the resources coming from funds from international organizations will be handled with "transparency" and will be included in the General State Budget.

Bolivia decided this week to extend the quarantine, which was due to end on April 15, until the end of the month.

Health authorities have reported 29 deaths and 441 confirmed cases of the disease.


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