Bolivia ends diesel subsidy
Bolivia has ended its diesel subsidy as part of a deal for a multi-million-dollar IMF loan aimed at stabilising the nation’s finances amid an economic cris Read More: https://punchng.com/bolivia-ends-diesel-subsidy/
Bolivia has announced it will eliminate its diesel subsidy following approval of a multi-million-dollar loan from the International Monetary Fund (IMF) to stabilize the country's finances. The subsidy, which drained the treasury's international dollar reserves, contributed to the nation's worst economic crisis in four decades. President Rodrigo Paz declared that diesel will now cost the same as the price paid for it abroad.
The government agreed to end all fuel subsidies by 2027 as part of the IMF bailout deal. Paz had previously raised domestic fuel prices to align them with international prices, though the government could still keep fuel prices artificially low under the IMF deal.
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- Bolivia ends diesel subsidy punchng.com
