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☆ Bolivia gets green light for full Mercosur membership
▼ + stars: | 2023-11-29 | by ( Lucinda Elliott | ) www.reuters.com time to read: +2 min

SAO PAULO, Nov 29 (Reuters) - Bolivia is set to become a full member of the South American Mercosur trade bloc following a decision on Tuesday by the Brazilian Senate to approve the country's admission. The vote on the accession of Bolivia to Mercosur is expected to be formally concluded during a regional summit on Dec. 7 in Rio de Janeiro. "Thank you to the senators for completing this process and congratulations to President Arce and Bolivia for joining us in Mercosur," Lula said on social media. Prospects for finally concluding the trade agreement with the EU gained traction following the election of ultra-liberal Javier Milei, a staunch critic of Mercosur, as president of Argentina. Bolivia was one of the worst offenders of primary forest clearances last year, behind only Brazil and the Democratic Republic of Congo, according to Global Forest Watch that monitors deforestation rates.

Persons: Luiz Inacio Lula da Silva, Arce, Lula, Luis Arce, Javier Milei, Milei, Lucinda Elliott, Mark Porter Organizations: SAO PAULO, South American Mercosur, Brazilian Senate, Bolivia, Senators, European Union, EU, Mercosur, Democratic, Global Forest Watch, Thomson Locations: Bolivia, Brazilian, Mercosur, Rio de Janeiro, Argentina, Paraguay, Uruguay, Brazil, Democratic Republic of Congo

☆ Bolivia Gets Green Light for Full Mercosur Membership
▼ + stars: | 2023-11-29 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +2 min

By Lucinda ElliottSAO PAULO (Reuters) - Bolivia is set to become a full member of the South American Mercosur trade bloc following a decision on Tuesday by the Brazilian Senate to approve the country's admission. The vote on the accession of Bolivia to Mercosur is expected to be formally concluded during a regional summit on Dec. 7 in Rio de Janeiro. "Thank you to the senators for completing this process and congratulations to President Arce and Bolivia for joining us in Mercosur," Lula said on social media. Prospects for finally concluding the trade agreement with the EU gained traction following the election of ultra-liberal Javier Milei, a staunch critic of Mercosur, as president of Argentina. Bolivia was one of the worst offenders of primary forest clearances last year, behind only Brazil and the Democratic Republic of Congo, according to Global Forest Watch that monitors deforestation rates.

Persons: Lucinda Elliott, Luis Inacio Lula da Silva, Arce, Lula, Javier Milei, Milei, Mark Porter Organizations: Lucinda Elliott SAO PAULO, Reuters, South American Mercosur, Brazilian Senate, European Union, EU, Mercosur, Democratic, Global Forest Watch Locations: Bolivia, Brazilian, Mercosur, Rio de Janeiro, Brazil, Argentina, Paraguay, Uruguay, Democratic Republic of Congo

☆ Election victory of Argentina's Milei greeted globally by mix of hostility and support
▼ + stars: | 2023-11-21 | by ( Steven Grattan | ) www.reuters.com time to read: +3 min

Asked for his reaction on Tuesday, Mexico's leftist President Andres Manuel Lopez Obrador said he respected the voters' verdict, but added that he believed Milei's win is unlikely to alleviate Argentina's problems. But other leftist Latin American leaders were more supportive. Chilean President Gabriel Boric and Brazil's President Luiz Inacio Lula da Silva both extended best wishes to Milei. Lula's congratulations came despite Milei's harsh criticism of the Brazilian leader on the campaign trail, where at one point Milei labeled Lula an "angry communist" and corrupt. Milei found enthusiastic support among right-wing populists, including former U.S. President Donald Trump and former Brazilian President Jair Bolsonaro, who Lula narrowly defeated last year.

Persons: Javier Milei, Alberto Fernandez, Andres Manuel Lopez Obrador, Milei's, Lopez Obrador, Evo Morales, Gustavo Petro, Gabriel Boric, Luiz Inacio Lula da Silva, Milei, Lula's, Lula, Vladimir Putin, Donald Trump, Jair Bolsonaro, I'm, Argentina's, Nayib Bukele, Bukele, Steven Grattan, David Alire Garcia, Rosalba O'Brien Organizations: Peronist, Colombian, Ukraine, U.S, Sao Paulo, Thomson Locations: China, Argentina, Buenos Aires, Venezuela, Colombia, Chilean, Moscow, Russia, Beijing, Sao

Scientists say such extreme weather is becoming increasingly common globally because of climate change, which also intensifies the effects of El Nino. Never before has Lake Titicaca dried up like it is now. Experts say many of the factors contributing to the shrinking of Lake Titicaca could be linked to climate change. In global terms we have climate change, and phenomena such as El Nino and La Nina, which cause floods and droughts." Back at Lake Titicaca, Fredy Aruquipa, the person in charge of monitoring the lake's water level, watches it decline daily.

Persons: Alex Flores, Claudia Morales, Manuel Flores, El, Flores, Xavier Lazzaro, Rodney Camargo, La Nina, Fredy Aruquipa, Monica Machicao, Sergio Limachi, Isabel Woodford, Adam Jourdan, Andrea Ricci Organizations: REUTERS, El, Friends, Nature Foundation, El Nino, La, Thomson Locations: Lake Titicaca, Bolivia, South, El Alto, El Nino, Titicaca, United States, Asia

☆ Bolivia severs ties with Israel over war in the Gaza Strip, as Columbia and Chile recall ambassadors
▼ + stars: | 2023-11-01 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +1 min

- Leftist economist Luis Arce assumed the Bolivian presidency facing the challenge of uniting a polarized society and reactivating an economy ravaged by the coronavirus pandemic. Bolivia on Tuesday announced it has cut off diplomatic ties with Israel as a result of the civilian deaths caused by its war in the Gaza Strip, while Chile and Colombia have recalled their ambassadors to the Middle Eastern country for consultations. The Bolivian decision took place after a Monday meeting with the Palestinian ambassador to the South American country, said Maria Nela Prada, minister of the Bolivian presidency, in an update. "The government of Bolivia's decision to cut diplomatic ties with Israel is a surrender to terrorism and to the Ayatollah's regime in Iran," Israel's Foreign Ministry said in a statement. It added, "In any case, since the change of government in Bolivia, relations between the countries have been devoid of content."

Persons: Luis Arce's, Marianela Prada, Luis Arce, AIZAR RALDES, Maria Nela Prada Organizations: Casa, Bolivian, Getty Images, Tuesday, CNBC Locations: del Pueblo, La Paz, AFP, Israel, Gaza, Bolivia, Chile, Colombia, Palestinian, American, Iran, Bolivian

☆ Five modern-day ghost towns
▼ + stars: | 2023-10-31 | by ( Elissa Garay | ) edition.cnn.com time to read: +10 min

CNN —Think of “ghost towns” and images of dusty, lost-to-time towns, like those in America’s Wild West, may come to mind. “Climate change will undoubtedly cause death of landscapes where we shall mourn our environmental decline.”Visiting such places now can shine a critical light on the effects of climate change and, in so doing, offer educational experiences to the contemporary visitor. “Visiting such places now can shine a critical light on the effects of climate change and, in so doing, offer educational experiences to the contemporary visitor.”Here are five global ghost towns that have been created as climate change reshapes the world – the likely harbingers of many more to come. Chacaltaya Ski Resort, BoliviaBolivia's abandoned Chacaltaya Ski Resort closed in 2009. Luke Chen/iStock Editorial/Getty ImagesOnce the world’s highest ski resort, the 17,388-foot-high lodge on Mount Chacaltaya opened in the 1930s as a popular – and only – ski resort in Bolivia’s Andes.

Persons: ”, Gaia Vince, “, Jack DeWaard, “ They’re, it’s, Vince, ” Vince, DeWaard, Philip Stone, Stone, Christoph Sator, de Jean Charles, Jean Charles’s, Cotul, Luke Chen, Chacaltaya, Kile Brewer, – Organizations: CNN, Population Council, United Nations, University of Central, for Dark Tourism Research, Institute, Dark Tourism, Fijian, Louisiana Communities, Valmeyer , Illinois Old, Valmeyer, School, The New York Times Locations: Wild, Hawaii , California, Australia, Bangladesh, Lahaina, Hawaii, Spain, University of Central Lancashire, Vunidogoloa, Fiji, Pacific, Fijian, Vanua Levu, Louisiana, Gulf, Mexico, New Orleans, Cotul Morii, Moldova, Morii, Europe, Bolivia, Andes, La Paz, Valmeyer , Illinois, Mississippi, North, Illinois, Valmeyer, –

☆ Bolivia severs diplomatic ties with Israel, citing 'crimes against humanity'
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: 1 min

Palestinians search for casualties at the site of Israeli strikes on houses in Jabalia refugee camp in the northern Gaza Strip, October 31, 2023. REUTERS/Fadi Whadi Acquire Licensing RightsLA PAZ, Oct 31 (Reuters) - Bolivia's government is breaking diplomatic ties with Israel, the Bolivian foreign ministry said on Tuesday, accusing Israel of committing crimes against humanity in its attacks on the Gaza Strip. Bolivia in 2009 cut diplomatic ties with Israel in protest of its attacks on the Gaza Strip. In 2020, the government of President Jeanine Anez reestablished ties. Reporting by Daniel Ramos; Writing by Brendan O'Boyle; Editing by Isabel WoodfordOur Standards: The Thomson Reuters Trust Principles.

Persons: Fadi, LA, Israel, Jeanine Anez, Daniel Ramos, Brendan O'Boyle, Isabel Woodford Organizations: REUTERS, LA PAZ, Thomson Locations: Gaza, Israel, Bolivian, Bolivia

LA PAZ, Oct 6 (Reuters) - Under a scorching sun, more than three hundred Bolivians on Friday marched to a dusty plain near the Incachaca dam that overlooks the city of La Paz, gathering to pray for rain and an end to a severe drought that has threatened their water supply. The ten reservoirs that supply La Paz - one of the country's largest cities with about 2.2 million inhabitants - only contain 135 days of water combined, Bolivia's state-owned water company EPSAS has warned. [1/5]Indigenous women pray for rain near the Incachaca dam, in Incachaca, on the outskirts of La Paz, Bolivia October 6, 2023. Only scarce rain is expected due to the weather phenomenon known as El Nino, the national meteorological agency has said. El Nino, a warming of water surface temperatures in the eastern and central Pacific Ocean, is linked to extreme weather conditions.

Persons: EPSAS, Susana Laruta, Claudia Morales, El, Bernardo Vedia, Santiago Limachi, Sergio Limachi, David Alire Garcia, Edwina Gibbs Organizations: LA, La Paz, REUTERS, El Nino, Thomson Locations: LA PAZ, La Paz, Incachaca, Bolivia

☆ Evo Morales announces candidacy for 2025 Bolivia presidential elections
▼ + stars: | 2023-09-24 | by ( ) www.reuters.com time to read: +1 min

Bolivia's President Luis Arce and former President Evo Morales attend an ancestral ceremony to ring in the Aymara New Year, in Tiwanaku, Bolivia June 21, 2022. REUTERS/Manuel Claure/File Photo Acquire Licensing RightsSept 24 (Reuters) - Former Bolivia President Evo Morales will stand in the South American country's elections in 2025, he said on Sunday in a message on social media platform X, adding that he has been "obliged" by attacks against him. The announcement confirms a rift between Morales, one of Latin America's most prominent leftists, and Bolivia's sitting President Luis Arce, his former economy minister turned rival within the ruling MAS party. Morales fled the country and claimed he was the victim of a right-wing "coup" that was backed by the United States. After an 11-month caretaker government, Arce won a landslide election victory in October 2020, paving the way for Morales to return home.

Persons: Luis Arce, Evo Morales, Manuel Claure, Morales, Bolivia's, I've, Arce, Oliver Griffin, Mark Porter Organizations: REUTERS, MAS, Thomson Locations: Aymara, Tiwanaku, Bolivia, United States

☆ Bolivia hardens tone on cocaine 'mega labs', signaling crackdown
▼ + stars: | 2023-09-02 | by ( Monica Machicao | ) www.reuters.com time to read: +3 min

Along with Colombia and Peru, Bolivia is widely recognized as a leading world producer of coca, the raw ingredient for cocaine, but the government has long maintained production of consumption-ready cocaine was limited. "They are trying to turn our nation from being a drug transit country to a drug-producing country," he added and presented a drug trafficking map of some 1,804 drug factory busts since 2020, the "vast majority" in Chapare, he said. "At the same time Bolivia has managed to transition from basic paste to hydrochloride." "In Bolivia we are experiencing a dispute between two factions of the MAS, each one pointing the finger at the other suggesting that they are protecting drug traffickers." Reporting by Monica Machicao; Writing by Daniel Ramos; Editing by Adam Jourdan and Howard GollerOur Standards: The Thomson Reuters Trust Principles.

Persons: LA, Evo Morales, Eduardo del Castillo, MAS President Luis Arce, Morales, Carlos Toranzo, Arce, Toranzo, Monica Machicao, Daniel Ramos, Adam Jourdan, Howard Goller Organizations: Departmental Association of Coca Producers, MAS President, MAS, Reuters, Thomson Locations: La Paz, Bolivia, LA PAZ, Colombia, Peru, Chapare, Bolivian, MAS

☆ What is BRICS, which countries want to join and why?
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +4 min

All the BRICS countries are part of the Group of 20 (G20) of major economies. WHICH NATIONS WANT TO JOIN BRICS AND WHY? It has received backing from Russia and Brazil to join the BRICS. Bolivia's President Luis Arce has expressed interest in BRICS membership and is expected to attend the summit. Algeria said in July it has applied for BRICS membership and to become a shareholder in the New Development Bank, the so-called BRICS Bank.

Persons: Commerce Wang, Competition Ebrahim Patel, Goldman Sachs, Jim O'Neill, Luis Arce, Bhargav Acharya, Olivia Kumwenda, Tomasz Janowski Organizations: Commerce, Africa's, Trade, Industry, Competition, of Trade, Economic, United Nations, World Bank, of, Petroleum, WHO, Democratic, U.S, New Development Bank, BRICS Bank, Thomson Locations: South Africa, China, JOHANNESBURG, Brazil, Russia, India, Johannesburg, United States, United, Iran, Saudi Arabia, United Arab Emirates, Argentina, Algeria, Bolivia, Indonesia, Egypt, Ethiopia, Cuba, Democratic Republic of Congo, Comoros, Gabon, Kazakhstan, Cape Town

☆ South America's largest lake approaches all-time low amid winter heatwave
▼ + stars: | 2023-08-04 | by ( Jeremy Schultz | ) www.reuters.com time to read: 1 min

Gabriel Flores shows the level of the water dropped in the Lake Titicaca area during the drought season, in Huarina, Bolivia, August 3. Titicaca is only 30 cm (1 foot) away from reaching its record low of 1996 due to severe drought, said Lucia...moreGabriel Flores shows the level of the water dropped in the Lake Titicaca area during the drought season, in Huarina, Bolivia, August 3. Titicaca is only 30 cm (1 foot) away from reaching its record low of 1996 due to severe drought, said Lucia Walper, an official with Bolivia's hydrology and meteorology service. She added that the drought could last until November in some parts of the country. REUTERS/Claudia MoralesClose

Persons: Gabriel Flores, Lucia, Lucia Walper, Claudia Morales Locations: Lake, Huarina, Bolivia, Titicaca

☆ Lake Titicaca drying up as heat wave turns winter upside down
▼ + stars: | 2023-08-04 | by ( Monica Machicao | ) www.reuters.com time to read: +2 min

[1/9] Isabel Apaza and Gabriel Flores sail in their boat through a narrow water path near the shore of Lake Titicaca in Huarina, Bolivia, August 3, 2023. REUTERS/Claudia MoralesHUARINA, Bolivia, Aug 4 (Reuters) - The parched shoreline and shrinking depths of Lake Titicaca are prompting growing alarm that an ago-old way of life around South America's largest lake is slipping away as a brutal heat wave wreaks havoc on the southern hemisphere's winter. Like many places suffering deadly consequences of climate change, the sprawling freshwater lake nestled in the Andes mountains on Bolivia's border with Peru now features a water level approaching an all-time low. Globally, July was the hottest month on record, as prolonged dry spells take an especially heavy toll on humans and animals alike. "I don't know what we're going to do any more since we don't have food for our cows or lambs."

Persons: Isabel Apaza, Gabriel Flores, Claudia Morales HUARINA, Lucia Walper, Monica Machicao, Santiago Limachi, Sergio Limachi, Valentine Hilaire, David Alire Garcia, Nick Macfie Organizations: REUTERS, Farmers, Bolivia's Oruro Technical University, International Monetary Fund, Thomson Locations: Lake Titicaca, Huarina, Bolivia, Titicaca, South America's, Peru, Gabriel Flores ., South America, Uruguay, Montevideo, shriveled

☆ The world's youngest referee? A 10-year-old rules the pitch in Bolivia
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +1 min

EL ALTO, Bolivia, Aug 3 (Reuters) - Erick Callejas may be just 10 years old - and a lot shorter than the other participants on the soccer pitch - but he has no qualms enforcing the rules as one of the few referees his age. "On Saturdays and Sundays I go out to referee with my little colleague, my son, Erick," Ramiro said. Callejas refereed his first match in a women's league after his dad signed him up for the job. "My dream is to referee the Bolivian Derby, to be a FIFA referee so I can go to the World Cup, America Cup, Liberators Cup and the Champions League," Callejas said. Reporting by Monica Machicao, Sergio Limachi, Santiago Limachi; Writing by Isabel Woodford; Editing by Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.

Persons: Erick Callejas, Callejas, Ramiro, Erick, Beimar Tancara, Tancara, Monica Machicao, Sergio Limachi, Santiago Limachi, Isabel Woodford, Lincoln Organizations: ALTO, La Paz, Bolivian Derby, FIFA, America Cup, Liberators, Champions League, Thomson Locations: Bolivia, El Alto, La

☆ Iran's drones could reach a new South American market as Bolivia expresses interest
▼ + stars: | 2023-07-31 | by ( Natasha Turak | ) www.cnbc.com time to read: +6 min

Here's what's ahead for defense stocks "Latin American countries are of special significance in Iran's foreign and defense policy based on the importance of [the] very sensitive South American region," Iran's Defense Minister Mohammad Reza Ashtiani was quoted as saying. Iran's drones have made "considerable impact on any battlefield they have appeared in," according to Farzin Nadimi, an arms expert at The Washington Institute said. The U.S.' concerns center on Iran's deepening foreign alliances and dissemination of its lethal drones, analysts say. It added that a former Revolutionary Guard Corps commander, "boasted in October 2022 that 22 countries — including Algeria, Armenia, Serbia, Tajikistan, and Venezuela — had submitted formal requests for Iranian drones." Iran has previously provided drones to African countries including Sudan and Ethiopia, which the latter used against Tigrayan rebels.

Persons: Oleksii Samsonov, Mohammad Reza Ashtiani, Edmundo Novillo, Novillo, Farzin, Nadimi, Novillo's, John Kirby, Biden, Ebrahim Raisi, Kirby, Annika Ganzeveld, Asad, Khomeini, Majid Asgaripour, Venezuela —, Raisi, ISW Organizations: Kyiv, Getty, Iran's, Bolivian, Bolivia's, CNBC, U.S . Defense Intelligence Agency, The Washington Institute, U.S . Institute for Peace, The U.S, U.S . National Security Council, Sepah, Anadolu Agency, American Enterprise Institute, Associated Press, U.S, Missiles, WANA, REUTERS, for, Revolutionary Guard Corps Locations: Russia, Kyiv, Ukraine, Iran, Washington, South America, Tehran, Fars, Bolivia, The, U.S, Europe, Africa, Latin America, Asia, America, Venezuela, Cuba, Nicaragua, U.S Ayn, REUTERS Washington, Algeria, Armenia, Serbia, Tajikistan, Iranian, Kenya, Uganda, Zimbabwe, Sudan, Ethiopia

☆ China's yuan expands its growing foothold in South America as Bolivia reduces reliance on US dollar
▼ + stars: | 2023-07-31 | by ( Jason Ma | ) www.businessinsider.com time to read: +2 min

China's yuan is expanding its foothold in South America as Bolivia reduces its reliance on the dollar. The country's yuan transactions from May to July accounted for about 10% of its foreign trade in that span. Bolivia has been hit by dollar shortages recently as lower natural gas production hit exports. But the country has been hit by dollar shortages recently as lower natural gas production hit exports. Argentine companies are increasingly turning to China's yuan amid dollar shortages, though many consumers use the dollar in daily purchases as hyperinflation slams the peso.

Persons: Marcelo Montenegro, Luiz Inácio Lula da Silva Organizations: Service, Privacy, Associated Press Locations: South America, Bolivia, Wall, Silicon, South, Argentina, Brazil, China

☆ Bolivia challenges global dollar dominance with Chinese yuan, Russian rouble
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +2 min

LA PAZ, July 28 (Reuters) - Bolivia's government is determined to curb dependence on the U.S. dollar for foreign trade, instead turning to the Chinese yuan, officials said, as Latin American support for alternative currencies grows. Bolivia has faced months of severe dollar shortages, driven in part by falling natural gas production, a key national export. Net foreign currency reserves have fallen to roughly $4 billion from a peak of $15 billion in 2014, pressuring state finances and threatening Bolivia's long-defended currency peg with the dollar. Not in dollars, but in its own currency," Montenegro said. Financial transactions worth 278 million Chinese yuan ($38.7 million) accounted for 10% of Bolivia's foreign trade in May through July, Montenegro said.

Persons: Marcelo Montenegro, Mikhail Ledenev, Daniel Ramos, Lucinda Elliott, Richard Chang Organizations: LA, U.S, Banco Union, Russia's, Thomson Locations: LA PAZ, La Paz . Bolivia, China, Montenegro, Bolivian, Russian, Bolivia, Moscow, Western, Russia, Beijing, Brazil, Argentina

☆ Bolivia seals $1.4 billion lithium deals with Russia's Rosatom, China's Guoan
▼ + stars: | 2023-06-29 | by ( Daniel Ramos | ) www.reuters.com time to read: +2 min

LA PAZ, June 29 (Reuters) - Bolivia has signed lithium agreements with Russian state nuclear firm Rosatom and China's Citic Guoan Group, the South American country's government said on Thursday, as it looks to develop its huge but largely untapped resources of the battery metal. Bolivia's iconic salt flats are home to the world's largest lithium resources at 21 million tons, according to the U.S. Geological Survey, but the country has long struggled to ramp up industrial production or develop commercially viable reserves. Russia's Rosatom, which bid via its Uranium One Group unit, confirmed the news, saying it would invest $600 million in the project, its first large-scale lithium venture overseas, with planned annual capacity of 25,000 tons of lithium carbonate. The deal with Uranium One Group was for feasibility and pre-investment studies, he said, adding multiple tests with Russian technology on the salt flats had shown a lithium recovery rate over 80%, with a purity of around 99.5%. Reporting by Daniel Ramos; Additional reporting by Maxim Rodionov; Writing by Adam Jourdan; Editing by Richard ChangOur Standards: The Thomson Reuters Trust Principles.

Persons: Energy Franklin Molina, Molina, Russia's, Rosatom's, Kirill Komarov, Citic, Daniel Ramos, Maxim Rodionov, Adam Jourdan, Richard Chang Organizations: LA, Guoan, American, Energy, . Geological Survey, Tesla, BMW, Uranium, Thomson Locations: LA PAZ, Bolivia, United States, America, La Paz, Pasto Grande, Uyuni Norte

Kenyan shipments of tea - its major export - have fallen by a fifth over the last year, according to the local regulator. The spike in global interest rates has already tipped Sri Lanka and Ghana into defaulting. Reuters GraphicsBLACK MARKETAlthough the dollar's share as a global reserve currency has dropped to 59% from 70% over a decade, it continues to dominate global trade. Nigeria has long had a web of multiple exchange rates which it is now trying to untangle, having also devalued its naira currency again last week. A plunge of around 70% in Bolivia's reserves has spawned queues at banks and currency exchange shops as some merchants stopped accepting local currency.

Persons: Wilson Muthaura, KTDA, Charlie Robertson, Muthaura, David Willacy, Ojo, Chaucer, Ronal, Luiz Inacio Lula da Silva, Kristalina Georgieva, William Ruto, Duncan Miriri, Marc Jones, Macdonald Dzirutwe, Monica Machicao, Mayela Armas, David Sherwood, Catherine Evans Organizations: Bank, FIM Partners, Reuters Graphics, Workers, REUTERS, La Paz, West, Reuters, JPMorgan, Monetary Fund, IMF, Fund, Thomson Locations: NAIROBI, LONDON, Pakistan, COVID, Russia, Ukraine, London, Islamabad, Egypt, Sri Lanka, Ghana, Tunisia, teetering, Nigeria, Kenya, StoneX, Nigeria's, Lagos, British, Cuba, Venezuela, Githunguri, Kiambu County, United States, Lebanon, Turkey, Ethiopia, China, India, Johannesburg, Saudi Arabia, Africa, Argentina, Nairobi, La Paz, Caracas, Havana

☆ Farm boom, fires make Bolivia No. 3 in world for forest loss
▼ + stars: | 2023-06-28 | by ( Lucinda Elliott | ) www.reuters.com time to read: +3 min

[1/2] A burnt forest is pictured at the Guarani Nation Ecological Conservation Area Nembi Guasu in the Charagua region, an area where wildfires have destroyed hectares of forest, Charagua, Bolivia, August 23, 2019. REUTERS/David Mercado/FILE PHOTOMONTEVIDEO, June 28 (Reuters) - Forest loss in Bolivia accelerated by about a third last year with clearances in the country trailing only giant neighbor Brazil and the Democratic Republic of Congo, a forest monitoring project report shows, blaming farm expansion and fires. The South American country lost nearly around 3,860 square kilometers (1,490 square miles) of primary forest in 2022, according to Global Forest Watch, an area nearly the size of Rhode Island. Fires, some linked to land clearances, have also played a big part in forest loss in recent years, the Global Forest Watch report said. In a report on Monday Global Forest Watch, backed by the nonprofit World Resources Institute and drawing on forest data collected by the University of Maryland, said the world lost an area of old-growth tropical rainforest the size of Switzerland last year.

Persons: David Mercado, Marlene Quintanilla, Daniel Larrea, Lucinda Elliott, Adam Jourdan, David Gregorio Our Organizations: Ecological Conservation, REUTERS, Democratic, Global Forest Watch, Nature Foundation, Global, Watch, Monday Global Forest Watch, World Resources Institute, University of Maryland, Thomson Locations: Guarani, Charagua, Bolivia, MONTEVIDEO, Brazil, Democratic Republic of Congo, Rhode Island, Santa Cruz, Beni, Bolivian, Switzerland

The drain in hard currency sparked panic earlier in the year, with Bolivians forming lines outside banks to withdraw dollars. Bond yields spiked sharply and in May the government was forced to sell half of its $2.6 billion gold reserves to raise cash. A major drought in Argentina has hammered grains output and reserves, imperiling a $44 billion debt deal with the International Monetary Fund. "The model is now shifting towards a very big state, a tax-and-spend approach," he said. "It has calmed people a bit... but that amount (gained from the gold reserves sale), $1.3 billion, is not enough for Bolivia," said local financial analyst Jaime Dunn.

Persons: Read, LA, Evo Morales, Jose Gabriel Espinoza, Marcelo Montenegro, Alberto Ramos, Goldman Sachs, spender, Jaime Dunn, Reuters Graphics Espinoza, Morales, Raúl Cortés Fernández, Daniel Ramos, Adam Jourdan, Rosalba O'Brien Organizations: Departmental Association of Coca Producers, LA PAZ, Reuters, International Monetary Fund, Bolivian, Graphics, Banco, Reuters Graphics, MAS, Thomson Locations: La Paz, Bolivia, Bolivian, America, Argentina, Peru, Brazil, Chile, Colombia

☆ Bolivian leader open to using yuan for trade, touting 'trend'
▼ + stars: | 2023-05-11 | by ( ) www.reuters.com time to read: +1 min

LA PAZ, May 10 (Reuters) - Bolivia's president expressed openness to the use of the Chinese yuan for international trade during a press conference on Wednesday, citing similar moves by Argentina and Brazil to tap the Asian currency for transactions with China. International trade transactions tend to be priced in U.S. dollars, especially for major commodity markets like energy and grains, going back decades. Earlier in the year, China and Brazil moved to reduce the dominance of the greenback by signing a deal to set up yuan clearing arrangements that can facilitate bilateral trade. "In Latin America, we have always had a great influence from the United States... but today many countries have more foreign trade with China. Reporting by Daniel Ramos; Writing by Valentine Hilaire; Editing by David Alire GarciaOur Standards: The Thomson Reuters Trust Principles.

☆ Bolivia takes control of Banco Fassil, executives arrested
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +2 min

LA PAZ, April 26 (Reuters) - Bolivia's government took control of one of the country's largest banks, Banco Fassil, a senior government financial official said on Wednesday, and police arrested several executives for alleged mismanagement. "Mismanagement, unhealthy practices have caused a crisis," the executive director of Bolivia's Financial System Supervision Authority (ASFI), Reynaldo Yujra, told reporters in the city of Santa Cruz. Dozens of police were stationed at Banco Fassil's 185 branches across Bolivia on Wednesday, authorities said. Banco Fassil President Ricardo Mertens, General Manager Jorge Arturo Chávez and another executive, Hernan Suarez, were arrested late Tuesday, while a fourth, Hermes Saucedo, turned himself in early Wednesday morning, according to the Santa Cruz attorney general's office. "The financial system in general is in good health.

☆ Argentina's lithium pipeline promises 'white gold' boom as Chile tightens control
▼ + stars: | 2023-04-24 | by ( Lucila Sigal | ) www.reuters.com time to read: +4 min

Neighboring Chile, the region's top lithium producer, last week unveiled plans for a state-led public-private model, spooking investors. Bolivia has long maintained strict control over its huge though largely untapped resources, while Mexico nationalized its lithium deposits last year. The country has six lithium projects under construction and 15 in the advanced exploration or feasibility stage, Mignacco said. "Argentina's lithium sector has thrived through a decentralized, pro-market strategy," said Benjamin Gedan, director of the Latin America program at The Wilson Center, adding in contrast Bolivia's lithium sector had "repeatedly stalled as a result of excessive state control." "Chile today produces and exports much more lithium than Argentina," said Natacha Izquierdo, analyst at consultancy ABCEB.

SQM's lithium contract in Chile is set to expire in 2030 and Albemarle's in 2043, giving it more insulation from the potential move. Mexico nationalized its lithium deposits last year, and Indonesia banned exports of nickel ore, a key battery material, in 2020. SQM has a larger footprint in Chile, with 81,000 hectares (about 200,000 acres) for lithium extraction compared with Albemarle's 16,000 hectares. Argentine state energy firm YPF last year began exploring lithium, while Bolivia has long maintained strict control over its huge though largely untapped resources. Mexico's President Andres Manuel Lopez Obrador and Bolivia's Luis Arce have touted the idea of a regional lithium "OPEC" to coordinate on lithium policy and benefit local economies.

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