Bolivia returns $350m IMF loan to avoid unnecessarily saddling its economy with debt

Bolivia´s central bank said on Wednesday it returned a loan of nearly $346.7 million dollars, plus interest, to the International Monetary Fund (IMF), to avoid unnecessarily saddling its economy with debt.
The loan was approved last year by the interim government of Jeanine Anez, which argued the funds were a necessary shot-in-the-arm following a political crisis that had led to the resignation of longtime leftist leader Evo Morales.
“This loan, in addition to being irregular and onerous due to financial conditions, generated ... millions in costs to the Bolivian state,” the bank said in a statement.
Bolivia is among the poorest nations in Latin America and has been particularly hard-hit by the coronavirus crisis in recent months.
The central bank returned $351.5 million to the IMF, which included $4.7 million in interest and commissions.
The bank also said it would begin administrative, civil and criminal actions against those responsible for negotiating the loan with the IMF. (Reporting by Danny Ramos, writing by Dave Sherwood, editing by Chris Reese)
Source: Reuters
Trending News
John Apea to lead clemency petition for Ato Essien on justice and human rights grounds
14:08W/R: GoldBod taskforce cracks down on 10 Chinese gold smugglers
21:30E/R: Afram Plains South faces critical health worker shortage, UNICEF promises support
01:56Perez University College fully accredited – GTEC DG affirms at 9th graduation
10:05Defence Minister confirms withdrawal of military protection for Jean Mensa
14:02Ghana Gold Board to channel seized illegal mining assets into community development
15:40GJA elections: Albert Sore elected Upper East Regional Chairman
01:45Agyinasare urges Mahama gov’t to support private universities at 9th Perez University College congregation
12:12Commonwealth official to lead petition for pardon of Ato Essien
13:56C/R:Kasoa taskforce commissioned to rebrand town
15:22