Bolivia Ends Diesel Subsidy Under IMF Bailout Deal

Bolivia has ended its diesel subsidy after Congress approved a $1.9 billion International Monetary Fund bailout aimed at stabilising the country’s finances. The subsidy had depleted foreign-currency reserves because the government imported fuel at international prices and sold it domestically at a loss. Diesel will now be sold at the same price the state pays to buy it abroad. The government says it will expand selected social programmes to cushion the impact. A decision on gasoline subsidies is still pending, while higher diesel prices for large consumers have already triggered protests.

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