MercoPress. South Atlantic News Agency

Bolivian President explains the reasons behind the current crisis.

Arce blamed Evo's government (in which he served as Economy Minister) for the crisis facing the current administration

Bolivian President Luis Arce Catacora explained during a TV appearance that lower oil and gas outputs have led the landlocked country to its current economic plight, resulting in the lack of fuel for domestic consumption and US dollars for foreign trade transactions. In his message on Bolivia TV, Arce also highlighted his Government's plan to reverse the ongoing crisis.

In Arce's view, Bolivia needs to reduce its dependence on foreign markets, where “the demand for fuels has increased, as have the prices.” He also recalled that in 2014 his country produced 18.6 million barrels of oil compared to 8.6 million in 2023. Hence, Bolivia produces only 44% of the gasoline and 14% of the diesel fuel it consumes.

Regarding natural gas, in 2014 Bolivia's output reached 17,608 million cubic meters per day (MMmcd), against 8,062 MMmcd in current times, thus forcing the country to suffer the consequences of ”what was not done seven years ago.” Arce then highlighted Bolivia's switching to biofuel production in the hope of producing 90% of the domestic demand by 2026.

The Bolivian head of state also underlined the parliamentary “boycott” against his administration when the Plurinational Legislative Assembly refused to approve loans worth over US$ 1 billion from the Inter-American Development Bank (IDB), the Andean Development Corporation, and the World Bank, among other credit agencies to further exploit newly-discovered natural resources such as the Mayaya X-1 mega field in the department of La Paz which is believed to have a potential of 1.7 trillion cubic feet.

“The problem of the lack of dollars and fuels lies, in the first place, in the fact that nationalization was not taken care of, investments in exploration were not made, which has generated a fall in the production of hydrocarbons, which has made us dependent on imports,” Arce explained.

However accurate Arce might have been, former Presidents Carlos Mesa and Janine Áñez insisted that it made no sense to criticize the administration of Evo Morales in which he was Economy Minister.

“After his empty and repetitive message, it is evident that (Arce) has no plan and no idea to face the crisis that he himself caused together with Evo Morales and his governments of incapacity, corruption, and irresponsibility,” Mesa argued. “Bolivia must prepare itself for a stage of many difficulties with a government that can no longer offer solutions or exits, and that will end up sinking in its lies. We are going to make sure that this dark period of Morales and Arce, which has led us to the worst economic, moral, and political crisis, is not repeated,” he added.

“The former minister of Evo Morales and current president of Bolivia believes that we are all stupid and eat mirrors,” Áñez stressed.“He wants to look like Columbus discovering America and is co-responsible for almost two decades of squandering the resources and investments inherited by the Masista [from Morales' Movement Towards Socialism, MAS] tenants of the Palacio Quemado to take care of and reinvest in Bolivia, not for them to spend them as if it had been their lottery,” she also noted.