Bolivia continues its openness to digital assets as a support for its national currency, the boliviano. In this regard, the South American nation is considering including Tether’s USDT stablecoin in its payment system.

The adoption of digital assets and cryptocurrencies in Bolivia continues to rise. The government’s strategy is to bolster its economy by combining other assets with the local currency, the boliviano, and the legal tender US dollar.

Bolivia, national currency, boliviano, US dollar At a press conference last week, Economy Minister José Gabriel Espinoza stated that the proposal “remains under technical review and the government has not published implementation rules nor granted legal tender status to the stablecoin.”

In this regard, Bolivian authorities are “developing a framework for banks, digital wallets, and payment providers,” according to Espinoza. Any implementation would require stricter anti-money laundering controls, as Bolivia remains on the Financial Action Task Force’s gray list, which subjects the country to increased scrutiny due to deficiencies in its financial crimes regime.

Authorities cite the increased adoption of cryptocurrencies by businesses and consumers who “are seeking alternatives to the scarce US dollars in the country.”

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Interpol (International Criminal Police Organization) announced on Friday, March 13, the results of a 72-country operation against cybercrime, which led to the arrest of 94 people, the seizure of equipment, and the suspension of websites.

Among the Spanish-speaking countries where the operation was carried out are Argentina, Bolivia, Colombia, Spain, Guatemala, Honduras, Paraguay, and Venezuela, in addition to Spain.

The agency, headquartered in Lyon, France, stated that in addition to suspending some 45,000 servers and web addresses used for criminal activities, it is still investigating 110 individuals.

Operation Synergia III, as the Interpol operation is known, was conducted between July 18, 2025, and January 31, 2026, with actions in key locations through the coordinated efforts of national authorities investigating online cyber scams or phishing, malware, and ransomware.

Cases of identity theft and credit card fraud were also identified, as well as romance scams to obtain bank transfers; and fake online casinos, banking sites, or government websites used to steal money from users or obtain sensitive customer information.

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The Bolivian government announced on Tuesday, February 3, that it is working on a package of laws aimed at strengthening the national economy and sustainable development by attracting domestic and foreign investment.

The South American nation seeks to “strengthen international cooperation and guarantee legal certainty” through investments in key sectors such as energy, hydrocarbons, and mining.

José Luis Lupo, Minister of the Presidency, stated that these “legislative initiatives seek to provide long-term legal support for the decrees recently approved by the Executive Branch, which are aimed at boosting the economy and creating a more predictable environment for investors.”

Lupo explained that the package of laws will be sent to the Legislative Assembly for the evaluation of “projects related to international loans secured by President Rodrigo Paz Pereira from multilateral organizations such as the Development Bank of Latin America and the Caribbean (CAF) and the Inter-American Development Bank (IDB).”

He emphasized the country’s goal of “overcoming regulatory barriers, reducing bureaucracy, and strengthening the rule of law, with the aim of creating favorable conditions for investment, technology transfer, and export growth.”

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In its recent projections for 2026, the World Bank indicated that Bolivia could experience a 1.1 % contraction in its GDP.

According to the international institution, the nation could experience the steepest decline in Latin America, due in part to factors that have persisted over time, such as the dollar shortage and the decline in the hydrocarbons sector.

In its World Economic Outlook 2026 report, the World Bank also anticipates “a greater deterioration by 2027, when the Bolivian economy could contract by 1.5 percent.”

Regarding the outlook for Latin America and the Caribbean, the World Bank projects average growth of 2.3 % this year and 2.6 % in 2027, as trade flows normalize and domestic demand improves.

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Bolivian President Rodrigo Paz Pereira, along with Minister of Economy José Gabriel Espinoza, announced the comprehensive overhaul of the 2026 General State Budget (PGE), which includes a 30 % cut in public spending.

This is the largest adjustment implemented in the country in over a decade. The president stated that the measure “seeks to dismantle an excessively spending-oriented system inherited from the previous government and redirect resources toward investment, macroeconomic stability, and the efficiency of the state apparatus.”

As a first step in this reform, the government plans to request the return of the 2026 General State Budget (PGE-2026) from the Chamber of Deputies. This budget was prepared and submitted to the legislature in the final weeks of the previous administration, led by Luis Arce, in order to review it and replace it with a plan aligned with the new fiscal priorities.

The president stated that they will reformulate this budget, which was designed for spending rather than investment or to benefit Bolivians.

Minister Espinoza added that “the Executive Branch will incorporate an article into the new law that will allow for a review of the budget until February 2026 under a strict rule: reducing fiscal spending by at least 30 percent. This will require a detailed evaluation of each public institution, its operating budgets, and current programs.”

The government will focus on crucial issues for Bolivia’s economy and development, such as defining the exchange rate of the dollar and the new fuel subsidy policy. According to the Constitution of the South American nation, the Legislative Assembly must debate, modify, or approve the new budget within 60 days of receiving it; otherwise, the bill is automatically enacted.

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The inflationary phenomenon currently affecting the Bolivian economy is prompting the country to consider including cryptocurrencies and stablecoins in its economic system.

This measure also seeks to facilitate the adoption of new technologies that allow for offering financial products based on digital assets.

Bolivia could then use stablecoins, such as USDT, as a hedge against escalating inflation. In fact, it is known that “companies like Toyota and BYD already accept payments in USDT due to the dollar shortage.”

The government “announced a series of reforms that will integrate cryptocurrencies and stablecoins into the official financial system, with the aim of modernizing the economy and responding to the growing use of digital assets as an alternative to inflation.”

This was emphasized by the Minister of Economy, José Gabriel Espinoza, who told Reuters that “banks will be able to hold crypto assets on behalf of their clients. They will also be able to use them in savings products, credit, and loans.”

The adoption of cryptocurrencies in Latin America has grown to the point of making the region “one of the main global markets.”

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The President of the Development Bank of Latin America and the Caribbean, Sergio Díaz-Granados, announced on Monday an immediate $550 million loan to provide liquidity to Bolivia.

The news was communicated directly to the new president of the South American nation, Rodrigo Paz Pereira, as the “first concrete operation of the Economic Recovery Support Program (PAREC).”

 The president of CAF stated: “We want to support the new government in transforming structural challenges into concrete opportunities for sustainable growth, strengthening macroeconomic stability, improving regional connectivity, and prioritizing the well-being of millions of Bolivians.”

With this loan, the multilateral institution becomes the first to present a concrete assistance plan to the country under the new government, which took office on November 8.

Díaz-Granados clarified that the funds will ensure compliance with urgent financial commitments and “generate certainty in the implementation of the government’s economic program.”

This loan approved for Bolivia is part of a larger package of up to $3.1 billion, planned for the next five years and subject to approval by the CAF Board of Directors.

These initiatives are based on four pillars: “macroeconomic stabilization, national and regional integration, well-being and social inclusion with a gender focus, and environmental sustainability and climate action.”

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On Saturday, November 8, centrist politician Rodrigo Paz was sworn in as the new president of Bolivia. He promises a plan called “capitalism for all.”

Regarding the presidential election, the second round that gave the new president the victory was held on October 19, where he won with 54.96 % of the votes, compared to 45.04 % achieved by his rival, the conservative former president Jorge Tuto Quiroga (2001-2002).

The media has reported that Paz’s rise to power marks the end of 20 years of socialism in Bolivia. The left is out of power, for the time being, and Paz’s term begins. He promises to “cut more than half of fuel subsidies,” in addition to focusing on “formalizing the economy, eliminating bureaucratic obstacles, and reducing taxes.”

The presidents of Argentina, Javier Milei; Chile, Gabriel Boric; Ecuador, Daniel Noboa; Paraguay, Santiago Peña; and Uruguay, Yamandú Orsi, attended Paz’s inauguration ceremony, as well as the U.S. Under Secretary of State, Christopher Landau. The Speaker of the Spanish Parliament and the Congress of Deputies, Francina Armengol, and Teresa Ribera, Vice-President for a Clean, Just and Competitive Transition of the European Commission and EU representative were also present.

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Canada and Mercosur member States will resume negotiations on a free trade agreement in October, a Brazilian representative said last week.

The announcement comes as a light at the end of the tunnel for the parties amid the tariff offensive by US President Donald Trump.

Talks between Canada and Mercosur — made up of Brazil, Uruguay, Paraguay, Bolivia, and Argentina — are crucial for opening new trade opportunities in both regions.

The Ministry of Foreign Affairs of Brazil, the current president of Mercosur, stated in a statement that the resumption of trade negotiations “between Mercosur and Canada constitutes an unequivocal sign of our shared commitment to deepening mutually beneficial economic ties and opening up new and significant opportunities.”

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This Sunday, Bolivians went to the polls to elect a new president. Senator and candidate Rodrigo Paz won the first round and will face Jorge Quiroga on October 19 in the second round of the presidential elections.

The results of the electoral process were as follows: Rodrigo Paz 32.2 %; Jorge Quiroga 26.8 %; Samuel Doira 19.9 %; Andrónico Rodríguez 8.2 %; Manfred Reyes 6.6 %; Eduardo del Castillo 3.2 %; Johnny Fernández 1.6 % and Pavel Aracena 1.5 %.

 

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The current president of the South American nation, Luis Arce, emphasized the civility and calm during the elections and stressed that the people have the final say regarding a possible change in policy.

Senator Rodrigo Paz declared that if he wins the second round, he will free Bolivia from 20 years of rule by the MAS party, and called on his supporters to celebrate this Sunday’s victory.

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