Bolivia's Economic Crisis: Over 30% of Businesses Forced to Close

Bolivia's Economic Crisis Forces Businesses to Close: "More Than 30% Have Shut Down" La Paz, Bolivia – A severe economic crisis is gripping Bolivia, forcing a significant number of small and medium-sized businesses to close their doors. According to a recent report by Red Uno, more than 30% of merchants have already ceased operations due to the economic downturn. The report features interviews with business owners who describe the challenges they face. Edgar Alvarez, Vice President of the National Confederation of Bolivian Merchants, stated, "The situation is chaotic. Many of my colleagues who once employed two or three people now work alone because they can't afford to pay staff." Many businesses are resorting to drastic measures to survive. Some are reducing their workforce, while others are changing their business models entirely. "There are colleagues who are changing their line of work to see if they can survive," Alvarez added. "They are trying things they never sold before, reinventing themselves." The economic hardship is palpable, with many shops closing and workers struggling to make ends meet. The report serves as a stark reminder of the urgent need for economic relief and government support to help these struggling businesses.