Bolivia Nears IMF Deal as Floating FX Move Ends 15-Year Dollar Peg
Updated
Updated · Bloomberg · Jun 15
Bolivia Nears IMF Deal as Floating FX Move Ends 15-Year Dollar Peg
2 articles · Updated · Bloomberg · Jun 15
Summary
Bolivia told investors it is close to securing an IMF financing program, with a shift to a floating exchange rate expected before the deal is finalized.
Christian Morales, the deputy minister of Treasury and Public Credit, said the currency changes could come as soon as this week, according to people on a Monday investor call organized by an investment bank.
The planned FX unification would end Bolivia’s dollar peg after more than 15 years, marking a major policy change as the government seeks external financing.
An IMF agreement would give Bolivia fresh funding after the exchange-rate overhaul, tying the country’s near-term stabilization plans to the currency reset.