Weekly Report - 27 April 2023 (WR-23-17)

Bolivian bank executives arrested amid financial jitters

Executives of Bolivia’s stricken bank Banco Fassil were arrested this week, accused by the attorney general’s office of “financial crimes”. The third largest bank in the country temporarily restricted cash withdrawals on 19 April, amid a run on banks, and then capped them at BS$1,000 (US$140) [WR-23-16]. There is widespread panic about an impending devaluation in Bolivia as international reserves have dwindled to the point that the central bank (BCB) suddenly stopped publishing data and imposed restrictions itself, requiring online applications, with no imminent availability, to make a withdrawal in US dollars.

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