Overview
- The government enacted Supreme Decree No. 5517 on January 13, declaring a nationwide emergency in response to inflation, scarce dollars and fuel shortages.
- The decree authorizes, on an exceptional and temporary basis, the importation, sale and commercialization of fuels by private entities to ensure supply across urban and rural areas.
- Private importers are permitted to sell at import or preterminal prices as a short-term measure to restore availability.
- Officials say the steps are intended to revive productive activity, mitigate the energy crunch and safeguard public security in the current economic context.
- The administration cites new Inter-American Development Bank support with an initial allocation near US$2 billion, while Vice President Edmand Lara says he will submit a bill to halt what he calls unconstitutional decrees, including the end of fuel subsidies.