Bolivia Swears In New Economy Minister as YPFB Owes US$1.056bn to Traders
President Rodrigo Paz swore in Christian Morales Burgos as Bolivia's new economy minister and told him to keep negotiating with the IMF and World Bank. The same day, the government disclosed that state oil firm YPFB owes US$1.056 billion to traders Trafigura and Vitol. The post Bolivia Swears In New Economy Minister as YPFB Owes US$1.056bn to Traders appeared first on The Rio Times .
President Rodrigo Paz appointed Christian Morales Burgos as Bolivia's new economy and public finance minister on Tuesday, August 25, 2026, as the country faced a significant fuel debt and allegations of smuggling within the state oil company. Morales Burgos, formerly vice-minister of the treasury and public credit, took office at Casa Grande del Pueblo in La Paz, replacing José Gabriel Espinoza.
The president instructed Morales Burgos to maintain stability, negotiate with multilateral lenders, and advance the 50-50 agenda for regional economic development. During the same day, the hydrocarbons minister, Marcelo Blanco, appeared before the Legislative Assembly to disclose that the state-owned YPFB owes US$1.056 billion to fuel traders Trafigura and Vitol.
Blanco warned that if YPFB fails to meet the payments, the two trading houses would halt fuel deliveries, causing long queues at service stations and affecting various sectors such as freight transport and farm production.
Written by urgent.news from The Rio Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
