Bolivia set to meet inflation target

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The global fall in food and fuel prices looks set to help Bolivia meet its intended inflation target of 6%.

Luis Arce, the Bolivian Finance Minister, announced the news last week and spoke of the support they have received from the International Monetary Fund (IMF).

“The International Monetary Fund has given its perspective on inflation that will occur in Bolivia and they talk of 7.9%, which is close to our target”, said Arce.

He was making reference to a report published by the company in June that stated their assessment of Boilivian finances in general.

The country has been struggling with problems centred on the rise in food prices over the last 6 months.

Two national protests in the first two months of the year took place in the capital city of La Paz, causing the closure of schools and hospitals in chaotic scenes.

Socialist President Evo Morales faced growing pressure from a number of quarters over the general state of the nation’s finances.

Morales targeted took the steps of targeting an inflation rate of 6% and economic growth of 5% for 2011.

Inflation in 2010 of 7.18% exceeded central bank forecasts that prices generally would rise to between 3% - 5%, compared with a 0.26% increase in 2009.

Recent figures have shown that Brazil spark an investment boom for South America as a whole due to their booming economy and the fact that they are set to host both the World Cup and the Olympics in the next decade.

It may be time for the rest of the continent to start matching that ambition if they are to enjoy future prosperity as well.

Transferring Money to Bolivia

Are you looking to invest in Bolivia? If so, it would be advisable to think carefully about how you will be transferring money to Bolivia. Many foreign currency exchange rates quoted by banks are worse than the exchange rates available through specialist currency dealers.

So if you are sending money to Bolivia, which is something you will inevitably have to do if you are looking to make a property investment, ensure that you compare the market before you buy your overseas currency.

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