Post by account_disabled on Mar 9, 2024 4:36:43 GMT
Shows the international organization's opposition to any type of nationalization or even minor attempts to increase government control over hydrocarbon resources. “The [IMF] staff appreciates President Mesa's commitment to veto any inappropriate hydrocarbons law,” a phrase that appeared in the IMF's Fifth Review under the “Stand By” Arrangement in March , little more than a year before the nationalization led by Mesa's successor, Evo Morales. While some of Bolivia's economic measures over the past years conform to standard policy prescriptions, others involve the use of an aggregate of unorthodox policies alongside self-devised tools.
For example, starting in the Central Bank has applied an unconventional monetary policy through a quantitative easing program, in order to purchase financial instruments Iraq Telegram Number Data issued by state companies and government bonds. In December , almost half (%) of the Central Bank's balance sheet was invested in domestic assets (up from % in ). It is important to emphasize that this significant increase in the money created by the Central Bank was not accompanied by an increase in the rate of price inflation. The Central Bank funds are intended to contribute to Bolivia's investment program in the capital expenditures of its strategic state enterprises.
The Government's commitment to public investment is also outside the currently dominant conventional recipes, and has kept Bolivia's public investment—as a percentage of GDP—at the highest level in Latin America. Overall investment (public and private) has also been substantially higher than in the past, averaging % of GDP over the last five years. And Bolivia's efforts to promote economic growth have focused on the domestic market, in line with its development strategy. Bolivia's commitment to GDP economic growth has been focused on the domestic market, in line with its development strategy.
For example, starting in the Central Bank has applied an unconventional monetary policy through a quantitative easing program, in order to purchase financial instruments Iraq Telegram Number Data issued by state companies and government bonds. In December , almost half (%) of the Central Bank's balance sheet was invested in domestic assets (up from % in ). It is important to emphasize that this significant increase in the money created by the Central Bank was not accompanied by an increase in the rate of price inflation. The Central Bank funds are intended to contribute to Bolivia's investment program in the capital expenditures of its strategic state enterprises.
The Government's commitment to public investment is also outside the currently dominant conventional recipes, and has kept Bolivia's public investment—as a percentage of GDP—at the highest level in Latin America. Overall investment (public and private) has also been substantially higher than in the past, averaging % of GDP over the last five years. And Bolivia's efforts to promote economic growth have focused on the domestic market, in line with its development strategy. Bolivia's commitment to GDP economic growth has been focused on the domestic market, in line with its development strategy.