LatinNews Daily - 07 June 2023

In brief: Bolivia’s central bank reveals cost of addressing currency crisis

* The president of Bolivia’s central bank (BCB), Edwin Rojas, has said that since February the BCB has spent US$650m in efforts to stabilise a currency crisis which has gripped the country due to fears over dollar shortages. Rojas said that the BCB had directly made US$134m available to citizens in the cities of La Paz, Cochabamba, and Santa Cruz. He also said that a further US$252m had been made available through financial institutions, and that US$10m had been made available through bureaux de change. Rojas said that a further US$254m had been made available through the easing of legal restrictions – an apparent reference to a law passed in May which enables the BCB to sell some of its gold reserves in exchange for hard currency.

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