Bolivia’s Morales to Tap $1.2 Billion of Reserves, ABI Says
By Alex Emery -
2012-02-13T21:02:19Z
Bolivian President Evo Morales has proposed tapping as much as $1.2 billion of central bank reserves to finance industrial projects, state news agency ABI reported.
In legislation sent to Congress today, local town halls will become partners with the central government in the projects, the agency reported, without providing details.
Bolivia’s central bank has $12 billion in international reserves, according to ABI.
To contact the reporter on this story: Alex Emery in Lima at aemery1@bloomberg.net
To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net.
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