Bolivia risks debt default without new funding: president to AFP
"We are trying not to default. We have every intention of paying our debt, but if we don't have the resources?" the embattled leader said in an interview in his office in La Paz.
Bolivia's external debt stands at $13.3 billion.
Its main creditors are the Inter-American Development Bank, the Development Bank of Latin America and the Caribbean (CAF), the World Bank, and China.
Arce has been unable to convince parliament to allow him to seek new loans to the tune of $1.8 billion from multilateral agencies.
The country needs $2.6 billion by December for fuel imports and external debt payments.
"We are making the worst deal as a country. Because when one has external debt, you pay the principal and interest to the creditor, and that outflow of dollars is compensated by the inflow of new disbursements from new debts, which is not happening," said the president.
Bolivia's debt represents over 37 percent of its gross national income, according to the World Bank. The last time the country defaulted was in 1984.
Arce has dismissed calls to stand down over an economic crisis marked by a dire shortage of foreign currency, fuel and other basics.
But he has said he will not seek reelection in August, with his approval rating at 9.0 percent -- one of the lowest in South America, according to survey body Latinobarometro.
'All his artillery'
Bolivia, home to 12 million people and an Indigenous majority, is one of the poorest countries on the continent despite sitting on vast natural resources such as gas and lithium.
In 2023, state oil company YPFB said Bolivia was running out of natural gas -- a crucial export product -- due to a lack of investment in new exploration.
A dramatic drop in gas exports led foreign currency reserves to plummet, making Bolivia unable to import sufficient fuel -- which it subsidizes heavily for the domestic market -- for its needs.
Inflation in May was 18.4 percent year-over-year, the highest in nearly two decades, and the local currency, the Boliviano, continues to lose value.
Bolivia's woes have been compounded by a power struggle between Arce and ally-turned-foe ex-president Evo Morales, who has repeatedly brought his supporters onto the streets in the past year to demand the incumbent's resignation.
Arce, in office since 2020, has accused Morales -- who seeks a fourth term as president despite being legally barred -- of using the country's economic crisis for political gain.
At least four police officers and one protester were killed in clashes last week.
Arce told AFP Morales took aim at his government "with all his artillery" just as it was "beginning to take off."
Analysts believe Bolivia is in for a political shift after nearly two decades of leftist governance, with the right now ahead in polls.
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France 24
3 days ago
- France 24
Bolivia risks debt default without new funding: president to AFP
"We are trying not to default. We have every intention of paying our debt, but if we don't have the resources?" the embattled leader said in an interview in his office in La Paz. Bolivia's external debt stands at $13.3 billion. Its main creditors are the Inter-American Development Bank, the Development Bank of Latin America and the Caribbean (CAF), the World Bank, and China. Arce has been unable to convince parliament to allow him to seek new loans to the tune of $1.8 billion from multilateral agencies. The country needs $2.6 billion by December for fuel imports and external debt payments. "We are making the worst deal as a country. Because when one has external debt, you pay the principal and interest to the creditor, and that outflow of dollars is compensated by the inflow of new disbursements from new debts, which is not happening," said the president. Bolivia's debt represents over 37 percent of its gross national income, according to the World Bank. The last time the country defaulted was in 1984. Arce has dismissed calls to stand down over an economic crisis marked by a dire shortage of foreign currency, fuel and other basics. But he has said he will not seek reelection in August, with his approval rating at 9.0 percent -- one of the lowest in South America, according to survey body Latinobarometro. 'All his artillery' Bolivia, home to 12 million people and an Indigenous majority, is one of the poorest countries on the continent despite sitting on vast natural resources such as gas and lithium. In 2023, state oil company YPFB said Bolivia was running out of natural gas -- a crucial export product -- due to a lack of investment in new exploration. A dramatic drop in gas exports led foreign currency reserves to plummet, making Bolivia unable to import sufficient fuel -- which it subsidizes heavily for the domestic market -- for its needs. Inflation in May was 18.4 percent year-over-year, the highest in nearly two decades, and the local currency, the Boliviano, continues to lose value. Bolivia's woes have been compounded by a power struggle between Arce and ally-turned-foe ex-president Evo Morales, who has repeatedly brought his supporters onto the streets in the past year to demand the incumbent's resignation. Arce, in office since 2020, has accused Morales -- who seeks a fourth term as president despite being legally barred -- of using the country's economic crisis for political gain. At least four police officers and one protester were killed in clashes last week. Arce told AFP Morales took aim at his government "with all his artillery" just as it was "beginning to take off." Analysts believe Bolivia is in for a political shift after nearly two decades of leftist governance, with the right now ahead in polls.
France 24
6 days ago
- France 24
G7 protests hit Calgary with leaders far away
In recent years, G7 protests have become tightly controlled affairs. Demonstrators are confined to designated spaces, often more than 100 kilometers (62 miles) from where world leaders meet. The 2025 edition is no different, with protesters voicing their anger in Alberta's largest city. Canadian officials promised a livestream of their messages to the isolated mountain town of Kananaskis where leaders of the seven industrialized nations are meeting. The crisis in Gaza was a dominant theme for the crowd of about 500 gathered in front of Calgary's main municipal building -- one of several areas in the city designated as protest zones. Police said no protesters were present at the other two local demonstration zones, including one near the Calgary airport where the leaders began arriving. "I'm here because I'm an Indigenous person," said Emrys Peacock, who came by bus from British Columbia's Okanagan region. "As an Indigenous person, I can't ignore a fellow Indigenous nation being bombed, murdered and starved at the hands of an occupation, (something) my people have been through since colonization," she added. Dozens of other protesters also railed against Israel's war campaign in Gaza, which was triggered by the October 7, 2023 attack on Israel by Hamas. Calgary student Terrence, who declined to give his last name, seemed surprised by the calm atmosphere. "I'm a little underwhelmed. I thought there would be a lot more confrontation because last year's Gaza protest was quite tense," he said. Not a '51st state' Unsurprisingly, hostility toward US President Donald Trump emerged as another major theme, particularly regarding his suggestions that Canada should become America's 51st state. Calgary native Diane Houston carried a sign calling the US leader an "abomination" and a "sociopath." She said she wanted "to make sure he's under no illusion that Canadians want to be a 51st state." Tracy Osterland from nearby Canmore echoed this sentiment: "Trump is a wannabe dictator, and he definitely needs to be stopped. Enough of the 51st state stuff already. We're not at all interested." Capturing the potpourri of themes at the protest, her double-sided poster had biting criticism of Trump on one side and a colorful welcome sign for Ukrainian President Volodymyr Zelensky on the other. "I'm really hoping that they can do something for him," she said of the Ukrainian leader, who will be attending the G7 summit along with other invitees. Another attendee beyond the seven leaders of the industrialized countries is Indian Prime Minister Narendra Modi, who launched strikes on Pakistan last month after an attack on civilians in divided Kashmir. The G7 leaders "are the world's peacekeepers," said Asif Nazir of the Jammu Kashmir National Awami Party. "We give our message to Modi and all the G7 summit participants to come forward and solve this issue, as per the Kashmiris' wishes," he said. Environmental concerns also featured prominently, with activists highlighting Canada's vast freshwater resources. Ila Dame from the group Protect Alberta's Rockies and Headwaters suggested Trump's interest in Canadian annexation stems from coveting resources. "We have 20 percent of the world's fresh water. Trump wants our water and our resources. It has nothing to do with wanting our people," she said. Despite being relegated far from the actual summit, most protesters took the strict rules surrounding the G7 in stride. "I do think it would be more effective if we were closer, if we could actually get the attention of the people who attend the G7," Peacock said. "However, we will have an effect anywhere," she added, not regretting her long ride to Calgary. © 2025 AFP
AFP
13-06-2025
- AFP
Land grab conspiracies spread alongside Canadian wildfires
"This isn't just wildfire policy -- it's a global land control strategy operating through 'sustainability' language," a June 1, 2025 Facebook post claims. The text claims the "Rio Law" is a global framework established to encourage sustainability that can be used to reclassify land in Canada for resource extraction and forbid residents from returning home after they are evacuated due to wildfires. The text spread across Facebook, Instagram and X partly echoing debunked theories about Agenda 21 and moves to push fire-displaced residents into "smart cities" where they will be subjected to strict technology surveillance or face restriction of movement. Simultaneously, users on Facebook and TikTok made additional claims about land grabs precipitated by wildfire evacuations invoking either controversy over Ontario province's Bill 5 or images of a possible pipeline route, which would supposedly cross Manitoba to reach Hudson's Bay. Image Collage of screenshots of Facebook posts taken June 13, 2025 Conditions are primed for another massive wildfire season in Canada, as the over 3.6 million hectares (13.8 thousand square miles) of area burned so far in 2025 has already surpassed the year-to-date average for the past decade (archived here). More than 30,000 people have evacuated their homes in western Alberta, Saskatchewan and Manitoba provinces, including remote Indigenous communities fleeing south. f June 12, some 7,000 evacuees in Saskatchewan province began returning home. Media report people will also soon be allowed to go back to communities Manitoba, but many areas remain under evacuation orders there and in neighboring Ontario. res hit as trade tensions with the United States have triggered the new federal government to open discussions about access to Canadian natural gas and coveted minerals. But the potential projects, including pipelines, raise concerns of environmental impact and Indigenous consent. Nevertheless, experts told AFP it was highly improbable for a wildfire to be used to intentionally target specific areas for resource exploitation. Unforeseeable spread Mike Flannigan a professor of wildland fire at Thompson Rivers University (archived here) said a wildfire is defined by three factors: how it starts, what it can burn through, and the weather conditions around it. Many fires are started -- mostly unintentionally -- by humans, he said, but fuel and weather play too large of a role in where flames spread, making it nearly impossible to start a wildfire that could successfully target a premeditated location. Flannigan also pointed out that climate change creates conditions that suck up moisture from vegetation and generate stronger wind, a mix conducive to more unwieldy fires. "The drier the fuel, the easier it is for a fire to start," he told AFP on June 5. Wildland firefighters use burning techniques to impede the path of smaller and less intense fires and keep them away from populated areas (archived here), but Flannigan said once the blazes reach the tops of the trees -- also known as a crown fire (archived here) -- response becomes limited. "There's only two options then: one is evacuate, get out of the way until the weather changes or the fuels change, or do a burnout operation, which is where you get in front, where the wildfire is spreading, start a new fire that's fighting against it," he said. Hossein Bonakdari, an associate professor of civil engineering at the University of Ottawa (archived here), analyzed indicators such as leaf coverage and winter snow area to predict the probability of wildfire in certain parts of Canada. Even with these prediction tools, Bonakdari noted, a plethora of minute variables dictating a wildfire's spread exist, making it impossible to foresee whether it could reach a certain location. "I need a dataset of today to do the prediction for tomorrow," he said on June 6. Resource regulation While the claim that wildfires could be used to clear certain areas for resource extraction may be unsubstantiated, concerns about infringement on Indigenous treaty rights in relation to Ontario's Bill 5 exist (archived here). The legislation gives the province authority to declare "special economic zones" (archived here), overriding local laws for resource projects in a move that Indigenous leaders say will conflict with the government's treaty obligations. Ontario Premier Doug Ford plans, for example, on extracting minerals from the Ring of Fire deposit in the north of the province. Other Canadian premiers also recently floated the idea of a pipeline through Manitoba to end in Hudson's Bay, similar to what has been referenced in some land grab claims online. Using reverse image search, AFP traced the map in those posts to a 2023 blog proposing a path for pipelines (archived here). However, no formalized proposals for such a project could be found. The posts also the 1992 Rio Declaration (archived here). The document produced at the United Nations' Earth Summit does not mention removing people from land. Rather, it lays out principles of protecting environmental and developmental systems, to which it says states should agree. AFP previously debunked claims about resident displacement to extract resources following hurricane evacuations. Read more of AFP's reporting on wildfire misinformation here.
