The president of Bolivia, Rodrigo Paz, celebrated this Friday the green light from the Legislative for a loan from the International Monetary Fund (IMF) for 1.9 billion dollars (around 1.65 billion euros), an injection that, as he explained, will allow to "shield" the international reserves and bolster the stability of the country's economy.
The law, which has moved forward with the support of more than two-thirds of the parliamentarians in both Chambers, represents for the head of State a "strong demonstration of political maturity, unity, and economic certainty."
"This support demonstrates that when the common good comes first, ideological differences take a back seat. These resources are intended to shield our reserves and open real opportunities for investment and employment," Paz pointed out in a message shared on his social networks.
The leader also described the new legal framework as a "historic step" for the country's economy, especially for "every farmer, merchant, worker, industrialist, and entrepreneur who sustains this country with their effort every day."
In parallel, the Minister of Economy and Public Finance, Christian Morales, defended before the Senate that this external financing is part of the Government's strategy to organize public accounts, move towards a scheme of greater flexibility, and regain confidence in access to international credit markets.
After overcoming all parliamentary procedures, the norm is now only pending promulgation by President Paz so that it can come into force.
The validation of this decree, which the Executive presents as a tool to reinforce the economy and stability of the country, comes in a context of strong political tension. The vote coincides with the decision of the Legislative Assembly to extend the state of emergency, in effect since June 20 due to the wave of protests and blockades against the president, and whose expiration was scheduled for this very Friday.
The state of emergency was declared at the end of June, after several weeks of roadblocks throughout the national territory promoted by organizations close to former president Evo Morales, who demanded Paz's resignation shortly after half a year of his arrival in office.
In the hardest moments of the crisis, more than a hundred blockades were counted distributed across seven of the nine departments of Bolivia. After several failed negotiation attempts, when 50 days of protests were reached, the Bolivian Workers' Central (COB) and the Executive sealed an agreement, after which Paz declared a state of emergency to resort to the Armed Forces with the aim of dismantling the blockades that still maintained peasant groups and allies of Morales.