Washington supported Rodrigo Paz's government's economic shift and highlighted the openness to investment and macroeconomic order
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The United States expressed its explicit support for the economic reforms announced by the government of Bolivia, considering that openness to investment, macroeconomic stability, and respect for the rule of law are key to the country's sustained growth.
The support was expressed through an official statement from the Department of State, released this Thursday, in which Donald Trump's administration praised the change of course driven by Bolivian President Rodrigo Paz after decades of failed economic policies.
Washington's formal support
The message was signed by Secretary of State Marco Rubio, who highlighted the relevance of the package of reforms announced by the new Bolivian government.
Washington apoyó el giro económico de Bolivia impulsado por el presidente Rodrigo Paz
"The United States welcomes the announcement made by President Rodrigo Paz of an important set of economic reforms aimed at restoring stability, prosperity, and investment in Bolivia", the official text stated.
From Washington, officials emphasized that the process will not be free of difficulties, but they underlined that it is a necessary shift after years of stagnation, corruption, and poor economic management.
A change of course after years of crisis
The statement maintained that the Bolivian people "have endured years of economic deterioration" and that the measures adopted by the new government lay the foundations for a more prosperous and secure future.
In that regard, the United States reaffirmed its willingness to collaborate with Bolivia so that the reforms have a concrete impact in the short term and contribute to the recovery of the economy.
"Openness to investment, sound economic management, and respect for the rule of law are essential to develop all of Bolivia's potential", the Department of State affirmed.
Investment and bilateral cooperation
Officials from the United States government are already in Bolivia with the aim of facilitating investments that will boost the prosperity of both countries. From Washington, officials indicated that there is full willingness to deepen the bilateral partnership and support the economic transition.
United States support reinforces the signal of international confidence in the new Bolivian economic course and seeks to attract private capital in a context of macroeconomic normalization.
The economic emergency declared by the government
Washington apoyó el giro económico de Bolivia impulsado por el presidente Rodrigo Paz
President Rodrigo Paz declared an "economic and social emergency" this week in the face of the severe inherited crisis. Among the main measures is the removal of the fuel subsidy, a policy that caused a strong fiscal imbalance.
In a televised message, the president described the decree as a "historic national rescue decision" to act quickly, coordinate the state, and stabilize the economy.
Paz stated that he had received a country without reserves, without dollars, with rising inflation, and with deteriorated public companies after more than 20 years of administrations by the Movimiento al Socialismo.
Price adjustment and fiscal order
The government explained that the fuel subsidy represented a cost of more than 2 billion dollars per year. The new scheme sets more realistic prices and keeps liquefied petroleum gas for households protected.
In addition, an extraordinary capital repatriation regime with 0% taxes was announced, along with the liberalization of exports and facilities for importing diesel.
Corruption investigation
Finally, the Executive announced the creation of a commission to investigate alleged irregularities in the hydrocarbons sector during the governments of Evo Morales and Luis Arce, as well as massive economic damage caused by unviable state-owned companies.
