US EditionBolivia's New President Plans to Scrap Taxes and Borrow Money to Confront Economic Crisis
President Paz aims to repeal key taxes and cut 30% of federal spending to reverse populist policies and attract investment amid Bolivia's worst financial crisis in 40 years.
- On Tuesday, President Rodrigo Paz announced he would scrap a ream of taxes and slash total federal spending from Bolivia's 2026 federal budget.
- After decades under MAS rule, the new administration argues President Rodrigo Paz is pursuing gradual measures rather than a shock fiscal adjustment to reverse years of populist policies and address Bolivia's worst financial crisis in four decades.
- Proposing specific changes, President Rodrigo Paz moved to repeal the national wealth tax and the 0.3% tax on everyday financial transactions, with repeal bills to be approved by Congress.
- To shore up finances, the government obtained a $3.1 billion loan from the Andean Development Corporation, with $550 million released, and seeks to borrow up to $9 billion in 60 to 90 days.
- Relations with Washington were repaired, and the U.S. State Department announced cooperation deals while Paz allowed Elon Musk's Starlink after last year's refusal; business leaders praised the end of private-sector persecution though critics say core problems remain.
16 Articles
16 Articles
Bolivia’s new president plans to scrap taxes and borrow money to confront economic crisis
LA PAZ, Bolivia (AP) — President Rodrigo Paz of Bolivia said Tuesday he planned to scrap a ream of taxes, in one of his first moves since becoming the nation's first conservative leader in nearly two decades in a bid…
Bolivia’s new president plans to scrap taxes and borrow money to confront economic crisis
LA PAZ, Bolivia (AP) — President Rodrigo Paz of Bolivia said Tuesday he planned to scrap a ream of taxes, in one of his first moves since becoming the nation's first conservative leader in nearly two decades in a bid…
Bolivia's new president plans to scrap taxes and borrow money to confront economic crisis
President Rodrigo Paz of Bolivia said Tuesday he planned to scrap a ream of taxes, in one of his first moves since becoming the nation’s first conservative leader in nearly two decades in a bid to rescue a crisis-stricken economy.
Bolivia's new president plans to scrap taxes and borrow money to confront economic crisis
President Rodrigo Paz of Bolivia says he will scrap a ream of taxes in one of his first moves since becoming the nation’s first conservative leader in nearly two decades in a bid to rescue a crisis-stricken economy.
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