The economy confirms that banks have $234 million and is asking them to process…

The financial system has $234 million in its coffers, so they were asked to send it to users in an active, timely and complete manner to avoid speculation, said Economy and Public Securities Minister Marcelo Montenegro.

“What we have spoken with Azopan (Association of Private Banks of Bolivia) is that they have 234 million dollars in cash in their coffers, so we are clear that they should speed up and provide these resources. A timely and detailed way so as not to create speculation,” he explained in an interview on the Poder Medios y Miedos program.

He declared that the indicator was the result of “aggregate information passing through the accounts of the Central Bank of Bolivia.”

In the first months of 2023, there was high demand for the dollar, which was countered by measures such as direct sales of the US currency by the Central Bank of Bolivia (BCB).

Montenegro warned that the blockade by followers of Evo Morales, which began last Monday, could create speculation about the exchange rate of the North American currency.

“We have spoken to Azopan and we continue to speak to traders to make them understand that between April and May (2023) is a very critical and difficult time when banks have limited resources in foreign currency,” he said.

According to Montenegro, banks provide dollars to the public, but “certainly there is a rationing imposed by them, because they set aside over time policies that create resources to save to give to depositors or their customers. Some fear or rumour.”

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“We urged Asaban that by having these millions they can provide quick and broad returns to those using the financial system,” he pointed out.

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