The President of Bolivia highlights the record number of remittances

Bolivia’s economic reconstruction is also being strengthened thanks to the great work and efforts of our compatriots abroad. In 2022, our family’s remittances broke a historic record, reaching $1,437 million, up 2.7 percent from 2021. United, united, we move forward! The head of state wrote on his Twitter account.

Referring to the topic, the President of the Central Bank of Bolivia (BCB), Edwin Rojas, specified in a press conference that of this total, Santa Cruz, Cochabamba and La Paz had 88 percent, and in absolute terms the growth in 2022. It was 38 million dollars.

When analyzing this indicator, it was stated that the department of Santa Cruz received 52 percent, Cochabamba 25 out of 100, and La Paz 11 percentage points.

“Together these three administrations receive 88 percent of the resources that our citizens send periodically, in this case during the last administration (2022),” Rojas said.

This is an important value in Bolivia’s family remittances and historically the highest, he insisted, in an unfavorable international context due to the Covid-19 pandemic and “other adverse factors”.

He added that these remittances in US dollars have a positive impact on the national economy.

“They increase the level of income, savings and investment of the receiving families; and of course they help in strengthening the Bolivian economy. All in all, they allow us to strengthen the level of international reserves,” he said.

Rojas concluded that this track record is the result of the confidence generated by the policies put in place by the government of President Luis Arce aimed at boosting domestic demand and promoting greater certainty in the stability of the economy of the multinational country.

lam / jpm