Bolivia returns millionaire loan borrowed by de facto government to IMF

The $ 351.5 million corresponds to the $ 327.2 million agreed in April 2020 by the administration of the right Jeanine Áñez, in addition to an additional $ 24.3 million, for the variation of the exchange rate and the interest and commissions.

The BCB explained that it had “effected the return” for various reasons, such as the fact that it was “onerous” and that it was “irregularly managed by the de facto government” of Áñez, which replaced the leftist in November 2019. Evo Morales, in the midst of a social revolt of the opponents.

The Bolivian banking entity also said in its statement that it had analyzed financial credit and determined that the IMF was conditioning its aid “on a series of fiscal, financial, foreign exchange and monetary charges”, without giving More details.

The BCB, which depends on the executive branch, also announced that it would take civil and criminal actions against government officials responsible for managing financial support from the International Monetary Fund.

After accepting the loan in April 2020, the government of the day submitted a law to Parliament for approval, but Congress, controlled by Morales’s party, the Movement for Socialism (MAS), rejected it.

The MAS had then argued that the government had not sent the required documentation. Leftist Morales distanced himself from the IMF during his 14 years in power (2006-2019) and rejected all credit.

The IMF spokesperson, Gerry Rice, He noted last June that the credit intended to support Bolivia’s balance of payments was “transparent”.