Bolivia's embattled president to take a 50 percent salary cut
Bolivian President Paz said the salary cut for himself and cabinet ministers shows the government's 'commitment' to the country. The move comes amid economic crisis and continuing protests.
Grappling with economic strain and continuing protests, Bolivian President Paz announced he and his cabinet ministers will cut their salaries by 50 percent. Paz said the decision shows the government's 'commitment' to the country.
The country is shaken by high inflation, a shortage of foreign currency and anti-government demonstrations. The pay cut was presented as a symbolic step toward austerity, though opposition figures and some unions argue that the economic measures do not go far enough.
The administration says the move carries a confidence-building message even if its contribution to public finances is limited. Analysts say the decisive factors will be the country's foreign-currency reserves and the course of international financing talks. This content is not investment advice.
More from South America
Will the US invade? Three ways the Cuba crisis could play out
The Trump administration has been applying intense economic pressure on the island's government. BBC weighs three possible ways the escalating Cuba crisis could unfold.
SK Hynix on track to become second Korean firm to hit $1 trillion market cap
Record demand for AI memory chips has pushed SK Hynix's market capitalisation close to the $1 trillion mark. If achieved, it would make the firm South Korea's second company to hit that level after Samsung Electronics.
Three dead after monster truck crashes into crowd
A monster truck crashed into a crowd at a show in Colombia, killing at least three people and injuring 38. The incident raises fresh concerns about public safety at large events.