Bolivia in crisis: Social unrest and calls for Arce to resign escalate
In Bolivia, social unrest deepened by fuel shortages, foreign-exchange bottlenecks and food inflation has spread calls for President Luis Arce to resign across the country. Al Jazeera reports that street pressure ahead of the IMF mission's June visit could push inflation into triple digits.
Al Jazeera's economy desk reports that protests in Bolivia have spread from Plaza San Francisco in La Paz on Monday to Cochabamba and Santa Cruz, with a 24-hour general strike called in six regional capitals as of Saturday. According to the Interior Ministry, 72 people have been detained; the doctors' union and the teachers' federation joined the street movement. Queues outside the Banco Central de Bolivia in La Paz showed the parallel boliviano-dollar rate reaching 27.4, more than 75% above the official parity.
President Luis Arce's emergency package of 20 billion bolivianos has, despite being announced, failed to ease supply-chain pressure. Finance Minister Marcelo Montenegro told Al Jazeera that 'the IMF mission's visit on 9 June will be decisive for the financial architecture'. Supporters of former president Carlos Mesa and former president Evo Morales are pressing for resignation through separate channels. The UNHCR office in Cochabamba reported that 41,000 Bolivians have crossed into Peru and Chile through humanitarian channels.
Latin American financial markets are following the tension closely. About 28% of Mercosur lithium exports pass through Bolivian channels; a two-day halt in the COMIBOL production line lifted shares of Chile's SQM, China's Tianqi and Australia's Pilbara by 1.9%, 2.2% and 1.4% respectively. IADB Vice-President Anabel González said her institution is conducting 'technical consultations' with both government and opposition channels and called for 'patient dialogue for regional stability'.
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