Bolivia ended two decades of fuel subsidies and declared an “economic emergency” as the new center-right government in La Paz looks to stabilize public spending and tame double-digit inflation. US Secretary of State Marco Rubio hailed the moves as “meaningful reforms” that would help the country attract US investment. Bolivia is hoping to secure an Argentina-style US currency swap and is dangling in return access to its untapped lithium reserves.
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Bolivia ended two decades of fuel subsidies and declared an “economic emergency” as the new center-right government in La Paz looks to stabilize public spending and tame double-digit inflation. US Secretary of State Marco Rubio hailed the moves as “meaningful reforms” that would help the country attract US investment. Bolivia is hoping to secure an Argentina-style US currency swap and is dangling in return access to its untapped lithium reserves.