Bolivia’s Economy Under Strain Due to Road Blockades
As tensions rise in Bolivia, road blockades orchestrated by supporters of former President Evo Morales have wreaked havoc on the country’s economy. The government estimates that up to US$1.5 billion in exports have been impacted by these protests, with private businesses bearing the brunt of the damages caused by the demonstrators.
Here are the key points contributing to the economic crisis caused by the road blockades:
- Potential decrease in exports: The Bolivian government warned that exports may plummet from the projected US$10 billion to as low as US$8.5 billion this year due to the blockades. This significant drop could result in less foreign exchange for the country, affecting its economic stability.
- Daily losses and setbacks: The industrial sector alone is losing between US$80 million and US$120 million per day, while exporters are facing setbacks of over US$53 million. These losses are directly related to the disruptions caused by the ongoing protests.
- Call to end the blockades: Deputy Minister Luis Siles urged the protestors to lift the blockades, emphasizing that these measures are harming the distribution and logistics of essential products. The government is urging for a prompt resolution to avoid further economic damage.
Furthermore, the Confederation of Private Businessmen of Bolivia (CEPB) highlighted the severe consequences of the blockades on all business activities, particularly on domestic and international trade, transport, and industry. The organization emphasized the devastating impact of these measures on the already struggling economy and vulnerable populations.
With roadblocks persisting across the country, the CEPB called on state entities to take swift action in resolving the crisis and ensuring that the rights of all citizens are upheld. The message is clear: these destructive measures must be halted to prevent further harm to Bolivia’s economy and its people.
The road blockades in Bolivia have not only disrupted daily life but have also put a significant strain on the country’s economic stability. It is crucial for all parties involved to prioritize a peaceful resolution to these conflicts to mitigate the financial fallout and safeguard the well-being of the nation.
