Bolivia Repays International Monetary Fund Loan Taken Out by the Coup Regime

The central bank returned $351.5 million to the IMF, including $4.7 million in interest and fees.

loan
Bolivia's President Evo Morales attends a campaign rally before general elections on October 20, in El Alto, outskirts of La Paz, Bolivia, October 5, 2019. Courtesy of Bolivian Presidency/Handout via REUTERS. ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. - RC145EEF78F0

Bolivia has returned the USD 346.7 million International Monetary Fund loan taken out by the coup regime of Jeanine Áñez. Bolivia’s central bank announced on Wednesday that it has returned its loans, including interest, to the International Monetary Fund (IMF) to avoid unnecessarily saddling its economy with debt.

In doing so, it has reclaimed power and sovereignty for the Bolivian people. The loan was accepted last year by the coup regime of Jeanine Anez, who claimed that the funds were a necessary shot in the arm after a political crisis that led to the resignation of long-standing leftist leader Evo Morales.

“In addition to being irregular and burdensome due to financial conditions, this loan resulted in … millions of costs for the Bolivian state,” the bank said in a statement.

Also read: Karnataka: Rail roko by farmers in Bengaluru, Mysuru and Raichur

Bolivia is one of the poorest nations in Latin America and has been especially hard hit by the coronavirus epidemic in recent months.

The central bank returned $351.5 million to the IMF, including $4.7 million in interest and fees.

The Bank also confirmed that it would initiate administrative, civil and criminal proceedings against those responsible for arranging the loan with the IMF.

Click here to subscribe to our youtube channel

Donate

Independent journalism can’t be independent without your support, contribute by clicking below.

LEAVE A REPLY

Please enter your comment!
Please enter your name here