LIBRE Party Proposes US$1 Billion Emergency Fund to Stabilize Bolivia's Economy and Guarantee Subsidies

Cochabamba, Bolivia – In a recent address, Lic. Ramiro Cavero of the LIBRE party proposed a significant economic measure aimed at stabilizing Bolivia's financial landscape. The proposal calls for securing an external emergency fund of US$1 billion to guarantee national subsidies and address the country's ongoing macroeconomic challenges. Cavero highlighted the urgency of the situation, stating, "The government will leave us with zero dollars in the Central Bank and not a drop of gasoline in any tank on the first day." He emphasized that no country could withstand such conditions for even a month without fuel. To counter this, the LIBRE party suggests approaching international organizations such as FLAR, the International Monetary Fund (IMF), and CAF to obtain the emergency funds. According to Cavero, these funds would primarily be used to return approximately US$2 billion to depositors, a crucial step to restore confidence in the financial system. "If this is not done, there will be no confidence in the financial system. No one will bring money from home or from abroad back into the banking system if there is no confidence," Cavero asserted. He added that once confidence is re-established, exporters would also be encouraged to bring their dollars into the country. Furthermore, the proposal includes establishing a "single, flexible, and real" exchange rate, similar to the previous 'bolsín' system, and maintaining sufficient dollar reserves to defend this rate. Cavero noted that in countries facing similar crises, people tend to seek refuge in the dollar, underscoring the need for a robust dollar cushion to regain national trust.

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