The Bolivian government responded on Monday to Moodys Investors Services negative outlook for the country, rejecting it and emphasizing Bolivias economic stability and growth.According to Zenn Mamani, the Vice Minister of Budget and Fiscal Accounting, Moodys outlook fails to consider several positive macroeconomic factors contributing to the countrys stability.Mamani highlighted Bolivias economic growth, which saw a remarkable shift from -8.7 percent in 2020 to 6.1 percent in 2021 and 3.5 percent in 2022.Bolivia emphasizes economic stability amid a negative outlook from Moodys.
(Photo Internet reproduction)Additionally, the country is projected by the World Bank to have one of the top three growth rates in the region, reaching 2.5 percent this year.He expressed regret that Moodys did not consider this positive outlook.The official also pointed out Bolivias low accumulated inflation rate of 0.6 percent as of May 2023, the lowest in South America, indicating the countrys ability to control inflation and maintain stability.Mamani attributed price stability in the domestic market to policies regarding hydrocarbon and food subsidies, which help maintain stable fuel prices and protect the purchasing power of Bolivian salaries.Furthermore, he emphasized the progress in implementing projects initiated in previous administrations, which will generate income and foreign currency for the country.He mentioned the reduction of liquidity pressure on Net International Reserves (NIR) through the enactment of Law 1503 for the Purchase of Gold and the positive variation expected in NIR due to increased exports of various products.Despite Moodys negative outlook, Bolivia remains confident in its economic stability and ongoing growth, backed by favorable macroeconomic indicators and promising prospects for the future.