Bolivia’s Financial System Supervisory Authority (ASFI) reported this Sunday that there is an “abnormal” demand for the dollar due to rumors that are creating uncertainty in the population, and those who “disclose false information”. warned of possible criminal prosecution.
executive director ASFIMoreReinaldo Yujra, in an interview with the state-owned channel BTV, explained that there was speculation about the alleged “restriction” of dollar sales in the financial system, but the entity has not issued any instructions in this regard.
“What we are currently observing is baseless and unnecessary speculation,” Yujra said.
He argued that the “bad Bolivians” were misinformed and caused uncertainty, and the analyst’s conclusions were that the financial system had created an “abnormal” demand for the dollar and feared a shortage of this currency. has obtained
“The financial system is fully solvent, stable and enjoys strengths that allow for a high degree of reliability,” emphasized Yujra.
Officials say the Financial Services Act has a clause on “financial crimes” that states that disclosing false information could result in criminal prosecution with five to 10 years’ imprisonment. I explained that it was included.
The ASFI director said, “We are under constant surveillance to identify whether those disseminating this type of false information are taking action.”
He added that 86% of the financial system’s deposits and 99% of its loan portfolio are now in its own currency.
This month, we found that the country’s net international reserve (NIR) fell to $3,871 million from almost $5,251 million in October 2020.
Additionally, this month we learned that Central Bank of Bolivia Signed an agreement with state-owned Banco Unión to promote an export incentive policy that allows issuers to buy dollars from the sector at competitive exchange rates.
