Bolivia Seeks Economic Recovery, Restore Gold Exports

Bolivia seeks to boost its economy following a 50 year low in 2020 after the de facto government of Jeanine Anez plunged the country into one of the worse economic and unemployment crises in the country's recent history.

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Economy Minister Marcelo Montenegro explained that the recovery strategy includes restoring gold reservoirs that reached the lowest figures since 2006. The authorities estimate to produce 4 tonnes per year. Gold is Bolivia's third-largest export, behind zinc and natural gas.

"The aim is to buy between 2-4 tonnes of gold annually, in such a way that this can be refined and become monetary gold," the official confirmed to Reuters in an interview. "At the moment, there is no alarm or problems in the matter of liquidity," Montenegro added.

The authorities forecast a 4,4GDP growth in 2021, but an overall recovery will take at least two years. In 2020 economic activity decreased by 11 percent amid the COVID-19 pandemic. Although Anez sank the country's finances, the government of Luis Arce managed to distribute special bonuses to tackle hunger, which benefited over 4 million Bolivians.