Bolivia Has Highest Foreign Reserves in Latin America

The Bolivian Central Bank said Thursday that its foreign reserves totaled nearly $15 billion, or nearly 50 percent of the gross domestic product (GDP), the highest level in Latin America

The Bolivian Central Bank said Thursday that its foreign reserves totaled nearly $15 billion, or nearly 50 percent of the gross domestic product (GDP), the highest level in Latin America.

The high reserve level provides “great support for exchange and monetary policies, the financial system’s stability and general economic activity in the country,” the Central Bank said in a statement.

An Economy Ministry report released earlier this week showed that Bolivia’s foreign reserves were higher than those in Uruguay, Peru, Paraguay, Brazil, Chile, Mexico and Colombia, among other countries, on a GDP-to-reserves basis.

Bolivia can use its reserves to protect its economy if lower energy prices have a negative effect on gas exports to Brazil and Argentina, Economy and Finance Minister Luis Arce said.


Latin American Herald tribune

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