There is a sharp collapse in foreign exchange reserves in the country after several years reducing the export of natural gas, which led to a fuel crisis.
Bolivian State Energy Company YPFB will use cryptocurrency to pay for energy imports against the background of a lack of dollars and fuel in the country. Reuters reported this on Thursday, March 13.
According to company and government representatives, the cryptocurrency payment system has been approved to ensure the necessary imports of energy resources.
There is a sharp collapse in foreign exchange reserves in the country after several years reducing the export of natural gas, which led to a fuel crisis. Long lines are regularly formed at the gas station, and the protests have become a familiar phenomenon.
The YPFB representative said cryptocurrency transactions will begin to conduct after the government’s approvement. The new system of purchase of energy resources should support the national subsidy for fuel against the background of a shortage of foreign currency.
Prior to this, Bolivia was a net exporter of energy thanks to large gas reserves, but now the country is forced to import energy due to a reduction in domestic production.
Reminding, earlier the head of the VP Danilo Getmantsev’s tax committee that has predicted that in Ukraine with “high probability” they focus on cryptocurrency in the first quarter of 2025.
In the USA, they plan a national reserve of cryptocurrencies
News from CORRESPONDENT.NET On the telegram and whatsapp. Subscribe to our channels https://t.me/KorresPondentNet and WhatsApp
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.