U.S. Backs Bolivia’s New Economic Reforms, Moves to Spur Investment

Overview

• President Rodrigo Paz announced a reform package on December 18 that ends two decades of fuel subsidies and sets a roadmap to stabilize public finances and attract foreign capital.
• Secretary of State Marco Rubio said the changes would encourage investment that could benefit both the United States and Bolivia.
• The State Department welcomed the reforms as a necessary course correction and emphasized rule of law and sound management as foundations for growth.
• U.S. officials are in Bolivia to help facilitate investment, with Washington saying it stands ready to support the transition and deepen the partnership.
• Bolivia’s government said lithium was not a topic in talks with the United States, after earlier media reports noted separate discussions about a financial lifeline and a possible currency swap.