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Bolivian lawmakers have approved a $1.9 billion financing agreement with the International Monetary Fund (IMF), advancing President Rodrigo Paz’s efforts to stabilize the country’s economy amid foreign currency shortages, fiscal pressures and weakened international reserves.
The lower house backed the financing package before it moved to the Senate. The agreement forms part of a 36-month program under the IMF’s Extended Fund Facility (EFF), designed to restore macroeconomic stability, rebuild reserves and address fiscal and external vulnerabilities. The IMF said in July that the arrangement remained subject to approval by its Executive Board and implementation of agreed prior actions.
Beyond the $1.9 billion IMF package, the program is expected to help Bolivia secure additional funding from the World Bank, Inter-American Development Bank and other development partners. The broader financing package could exceed $5 billion during the program period.
Bolivia’s economic stabilization plan includes reducing the fiscal deficit, tightening monetary policy, modernizing the exchange-rate framework and introducing structural reforms aimed at improving productivity and encouraging private investment. The government also plans to curb monetary financing of public deficits while maintaining protections for vulnerable households.
Fuel policy is another major component of the reform agenda, with authorities moving to reduce costly hydrocarbon subsidies. President Paz has argued that IMF resources are intended to strengthen and stabilize the economy rather than finance ordinary government spending.
Economy Minister Christian Morales told lawmakers that the government inherited net international reserves of about $3.17 billion, but only $52 million was held in liquid reserves. By August 8, reserves had increased to roughly $4.4 billion, including more than $1.1 billion in liquid assets, according to Bolivia’s Economy Ministry.
The government expects international reserves to approach $6 billion by the end of 2026 and continue rising through the IMF program. It also aims to narrow the fiscal deficit substantially over the coming years as Bolivia seeks to restore financial stability and regain broader access to international financing.
