Bolivia confirms technical agreement with IMF for 36-month program

Bolivia's government has announced a technical agreement with the International Monetary Fund (IMF) for a 36-month financing program under the Extended Fund Facility (EFF). This development, confirmed by the Ministry of Economy, represents a significant step toward stabilizing the nation's economy, though it still requires ratification by the IMF's Executive Board.

The agreement is framed as a crucial endorsement of the economic reconstruction plan led by President Rodrigo Paz. Its objectives include strengthening macroeconomic stability, rebuilding international reserves, reducing fiscal and external vulnerabilities, and fostering conditions for sustained growth, increased investment, and job creation. The government anticipates that the IMF's backing will bolster international confidence and pave the way for additional financing from multilateral bodies such as the World Bank and the Inter-American Development Bank (IDB).

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The understanding represents a backing for the economic reconstruction program promoted by the administration of President Rodrigo Paz.

While the specific loan amount was not officially disclosed in the government's statement, Economy Minister José Gabriel Espinoza had previously indicated it would be around $2.8 billion. The IMF is expected to submit the agreement for its Executive Board's consideration. If approved, this program would mark one of the most substantial multilateral financing deals Bolivia has secured in recent years, signaling a potentially pivotal moment for the country's economic trajectory.

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the agreement contemplates financing close to $us 2.8 billion.