New Finance Chief Vows to Axe Bolivia’s Ultra Cheap Fuel Policy

Bolivia’s new government is drawing up plans to slash subsidies that give its drivers some of the cheapest fuel in the Americas, but which are a main cause of the nation’s fiscal crisis.

Finance Minister José Gabriel Espinoza said in an interview that he aims to virtually eliminate fuel subsidies, which would otherwise cost the treasury the equivalent of about 6% of gross domestic product next year.