Businesspeople in Cochabamba have expressed their concern about banking restrictions that hinder access to their funds in dollars. According to the Chamber of Industry, Commerce, and Services of Cochabamba (ICAM), these limitations are severely affecting commercial activities. The situation has created a climate of uncertainty in the business sector, which faces serious difficulties in operating normally.
Amílcar Rocha, president of ICAM, denounced that the restrictions go beyond mere inconveniences. Many businesspeople can't withdraw their savings in dollars even to make important payments. This situation is affecting the daily transactions of companies, putting their operations and economic viability at risk.
Rocha explained that businesspeople have attempted to withdraw small amounts of money from their bank accounts but encounter multiple obstacles. "We can't use our dollars. The restrictions are absolute," he indicated with concern.
Additionally, Rocha pointed out that the restrictions are also limiting the use of credit cards for making purchases or paying for services. This has complicated the operation of many companies. The situation has become unsustainable for a sector already facing various economic difficulties.
Has the problem been normalizing?
The problem of banking restrictions is not new. In recent months, many companies have had to adapt to a system that hinders the circulation of dollars. According to economic analysts, the shortage of dollars in Bolivia has led to an increase in complaints from citizens and businesspeople.
The Bolivian Commercial Code establishes that obligations contracted in foreign currency must be covered in that currency when possible. However, in practice, banks are forcing clients to receive their savings in bolivianos. This has caused a devaluation of the funds, which lose around 40% of their value when converted to bolivianos.
The economic crisis in Bolivia has worsened the situation. The shortage of dollars became more evident at the beginning of 2023, when the Central Bank of Bolivia stopped providing foreign currency to banks. This forced financial institutions to impose increasingly severe restrictions, affecting both citizens and companies.
