The credit freeze in Bolivia has adversely affected hydrocarbon imports, contributing to fuel shortages. Minister Franklin Prada criticized legislators for misinformation about fuel purchase credits and called for their accountability in approving loans necessary for sustaining fuel supplies. The decline in foreign currency flow has created a gap that cannot meet domestic fuel demand.
In Bolivia, a credit freeze has negatively impacted hydrocarbon imports, leading to significant concerns over fuel availability. Minister of Hydrocarbons, Franklin Prada, noted during a recent press conference that disinformation from national assembly members regarding fuel purchase credits is misleading the public. He emphasized that the legislators have a crucial role in approving credits essential for securing the flow of dollars necessary for fuel purchases.
Prada criticized the long lines at fuel stations, asserting that they are a means for legislators to avoid accountability for the disrupted flow of foreign currency. This disruption has impeded payments for fuel imports, resulting in a decrease in diesel and gasoline supplies. He reminded lawmakers that loan management is within the national government’s economic planning efforts, aimed at fulfilling the population’s needs, and governed by Supreme Decree 29236.
The minister provided insights into past financial operations, pointing out that loan disbursements routinely surpassed Bolivia’s external debt service payments until 2022. In stark contrast, in 2023, the country received $1.126 billion in loans but paid out over $1.491 billion. This trend worsened in 2024 when only $674 million was received against $1.526 billion paid out, creating a significant gap in foreign currency necessary for meeting fuel demand in the country.
Minister Prada asserted that the population is suffering due to the lack of foreign currency entering the economy and called on legislators to fulfill their responsibilities regarding loan approvals. He urged politicians, particularly those aiming for presidential candidacy, to be honest and transparent in their critiques of the national government ahead of the general elections on August 17. Furthermore, Prada pledged that the government would implement measures to meet Bolivia’s hydrocarbon supply needs.
In summary, the credit freeze in Bolivia has created serious challenges for hydrocarbon imports, affecting the availability of fuels like diesel and gasoline. Minister Franklin Prada holds legislators accountable for the loan approval process and urges them to act responsibly. With the significant decline in foreign currency inflow, the government is committed to implementing solutions to address the hydrocarbon supply requirements for the population.
Original Source: www.plenglish.com
