Bolivia's New Leader Tackles Fuel Subsidies

Bolivias new president, Rodrigo Paz, takes on the challenge of reversing two decades of socialist policies, focusing on reforming the countrys fuel subsidy system. The previous socialist governments policies led to significant drops in natural gas production, depleted foreign currency reserves, and widespread smuggling. Paz faces the task of stabilizing the economy, ending universal fuel subsidies, and assessing the cost of these subsidies to ensure they benefit those in need. The IMF warns of a high risk of financial crisis, and Pazs administration plans to reform the policy, potentially shifting Bolivias international relations towards closer ties with the United States.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.