LatinNews Daily - 29 April 2025

*Bolivia’s Economy & Finance Minister Marcelo Montenegro has announced a 10% increase in the monthly minimum wage, which will rise to B$2,750 (US$398) from 1 May. This was agreed following negotiations with the umbrella workers’ union Central Obrera Boliviana (COB), which had initially sought a steeper rise of 15%. The increase mirrors the annual inflation rate for 2024, which stood at 9.97%. The private sector lobby Confederación de Empresarios Privados de Bolivia (CEPB) criticised the wage hike, stating that it had been “imposed in a context in which Bolivia is showing a shrinking GDP, rising inflation, and sustained deficits”. The increase, which comes ahead of the August general elections in which President Luis Arce is seeking re-election, is significantly larger than in recent years; it follows minimum wage increases of 5.85% in 2024, 5% in 2023, 4% in 2022, 2% in 2021, and a freeze in 2020.

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