Washington
DC, USA: U.S. Secretary of State Marco Rubio met Bolivian President Rodrigo Paz
on Monday (September 21) in New York, on the sidelines of the United Nations
General Assembly.
Paz, who was sworn
into office in 2025, is facing an economic crisis with foreign currency
shortages, fiscal deterioration and declining international reserves. Bolivia's
Assembly has imposed a state of emergency as the country faces shortages of
food, fuel and medicine caused by road blockades protesting his
administration's measures to combat the economic crisis.
Last week,
Bolivian lawmakers approved an agreement that will allow the South American
country to access $1.9 billion in financing from the International Monetary
Fund (IMF). The move is seen as a cornerstone of Bolivia's effort to regain
access to external financing. In return, the country must implement a
stabilization program that includes reducing the fiscal deficit, enforcing
greater monetary discipline, adopting a more flexible exchange rate regime, and
carrying out reforms to boost productivity and improve the investment climate.
