INSUBCONTINENT EXCLUSIVE:
A severe dollar shortage has crippled imports, devalued the boliviano, and driven inflation.The official exchange rate of 6.96 bolivianos
per dollar no longer holds, with the parallel market rate soaring to 13 bolivianos per dollar
Foreign reserves have plummeted from $15 billion in 2014 to under $2 billion in 2024, leaving the government unable to fund critical imports
like fuel.The country relies on imports for 56% of its gasoline and 86% of its diesel
However, dwindling reserves have created fuel shortages, forcing citizens to wait up to 30 hours at gas stations.This disruption has
paralyzed transportation, agriculture, and mining sectors, further weakening the economy
Years of subsidies and dependence on declining natural gas exports have compounded the crisis.The situation has triggered mass migration to
Peru, with thousands crossing informal border routes daily in search of basic goods or to escape economic despair.Economic Collapse in
Bolivia Drives Thousands to Flee Across Borders
(Photo Internet reproduction)Border towns like Desaguadero report up to 70% of businesses closed due to reduced spending and supply chain
Chile has increased military patrols along its border, fearing irregular migration.Protests against rising prices and shortages have erupted
across Bolivia as citizens face deteriorating living standards
Experts warn that over one million Bolivians may migrate if conditions worsen
uncertainty hampers necessary reforms like reducing subsidies and diversifying exports
