Bolivia scraps diesel subsidy to combat fuel shortages Bolivian President Rodrigo Paz on Friday announced the ​end of state diesel subsidies, ‌shifting the country to a unified pricing model to help resolve chronic fuel ​shortages. Bolivia imports roughly 90% of ​its diesel, and the government spends ⁠approximately $55 million weekly on subsidies, ​according to Paz. "Starting today, diesel will ​cost what it costs us to buy abroad," Paz said, citing rampant fuel smuggling ​and black-market reselling as key ​drivers of the weekly deficit. To ​offset ⁠the financial strain on households and key economic sectors, the administration ⁠unveiled ​targeted relief measures, including ​direct cash transfers and preferential credit lines. (Reuters)

Bolivia’s government has completely eliminated its diesel subsidy after the Senate approved a $1.9 billion loan from the International Monetary Fund that calls for spending curbs

Bolivia’s President Rodrigo Paz has named Christian Andrés Morales as his new finance minister with a charge to work with international lenders to secure as much as $10 billion in new financing

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Bolivian President Rodrigo Paz has removed Economic Minister Jose Gabriel Espinoza from his post after the minister was censured by the country’s Congress