BREAKING: Bolivia has cancelled and returned the full sum of the US $346.7 Million IMF loan taken out by the coup regime, in rejection of IMF impositions on internal economic policy.
As of February 2021, the loan had already racked up $24.3 Million in interest and commissions.
As of February 2021, the loan had already racked up $24.3 Million in interest and commissions.
"The Central Bank of Bolivia, informs the public that in defense of the economic sovereignty of the country and respect for the Political Constitution of the State, it returned 346.7 million USD to the IMF which was irregularly managed by the de facto government in April 2020."
"This loan, in addition to being irregular and onerous due to financial conditions, generated millions in additional economic costs for the Bolivian State, which as of Feb. 2021 amounted to $19.6 million due to exchange rate variation; $4.7 million in commissions and interests."
"The analysis carried out by the Central Bank of Bolivia also determined the IMF's so-called Rapid Financing Instrument conditioned on a series of fiscal, financial, exchange and monetary impositions (..) violated the sovereignty and economic interests of the country."
"In this sense, the Central Bank of Bolivia as the government's financial agent, in defense of the economic sovereignty of the country and after carrying out the necessary administrative procedures with the creditor, made the total payment of 351.5 million dollars."
"Finally, the Central Bank of Bolivia will carry out the corresponding administrative, civil and criminal actions against all servants and former public servants responsible for participation in the process of negotiation, subscription and operation of financing with the IMF."
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