CarwilBJ’s avatarCarwilBJ’s Twitter Archive—№ 32,973

                1. The IMF has recommended an austerity plan for Bolivia, which is running a fiscal deficit, financed by Bolivia's Central Bank. correodelsur.com/economia/20220915_fmi-recomienda-a-bolivia-eliminar-el-aguinaldo-para-funcionarios-y-reducir-la-informalidad-y-subsidios.html
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              1. …in reply to @CarwilBJ
                The specific recommendations are classic neoliberal austerity: remove fuel subsidies, reduce public sector payrolls, raise revenue by cracking down on contraband and money-laundering. Also attract more foreign investment to oil, gas, lithium sectors.
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            1. …in reply to @CarwilBJ
              Some obvious alternatives: wealth or income taxes (promised during Arce's 2020 campaign), taking a greater share of gas revenue (essentially abandoned by 2013), decarbonizing domestic energy while maintaining exports, taxing cooperative mining.
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          1. …in reply to @CarwilBJ
            There are political stalemates around almost all of these proposals from ending fuel subsidies (stopped by left protest in December 2010) to cracking down money laundering (stopped by right protest in November 2021).
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        1. …in reply to @CarwilBJ
          The Bolivian government has responded with a flat NO to the IMF: "We will not accept that type of recommendations because we are a sovereign country and we have a sovereign economic policy." correodelalba.org/2022/09/16/gobierno-boliviano-le-responde-a-fondo-monetario-internacional-bolivia-es-soberana-y-no-aceptara-sus-viejas-recetas-economicas/
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      1. …in reply to @CarwilBJ
        "Nosotros consideramos que ese tipo de recomendaciones no las vamos a aceptar, porque somos un país soberano y tenemos una política económica soberana."
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    1. …in reply to @CarwilBJ
      It's worth noting that the Arce government takes its macroeconomic output very seriously, treats economic growth as a central goal, and advertises praise for "the Bolivian miracle" from global financial institutions on billboards in the central square.
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  1. …in reply to @CarwilBJ
    While the language here ("Sovereign") is nationalist, the government's argument is about "sacred obligations" to labor and the superiority of Keynesian policies to neoliberal ones for achieving growth in internal demand.
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