Bolivia Enters a New Era

Bolivia is embarking on a new chapter. For almost twenty years, the country was under the governance of the Movement Toward Socialism. This era significantly transformed Bolivia’s economy and its institutions, as well as its ties with the United States. Currently, my administration is pursuing a new path: fostering confidence, enhancing institutions, encouraging investment, and providing more opportunities for private businesses and entrepreneurship.

When I assumed office, Bolivia’s Central Bank held a meager $51 million in reserves. Fast forward ten months, and those reserves have surged to nearly $1.2 billion. Of course, we aim to continue this upward trend. Despite facing challenges like high inflation and fuel shortages, which have tested our citizens, the objective is clear: Bolivia is working to stabilize its economy.

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During my campaign, I referred to our approach as “capitalism for everyone.” What I mean is, it’s about ensuring access to capital, enabling investment, and allowing individuals the freedom to create businesses and generate jobs. Ideology doesn’t feed families—employment, production, and investment do. It’s growth that makes a real difference.

This shift in economic strategy is also paving the way for a new relationship with the United States. My discussions in New York with Secretary of State Marco Rubio marked a significant change in how our countries interact. Bolivia is eager for cooperation based on mutual respect, economic opportunities, and shared interests.

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The Trump administration has renewed its focus on the Western Hemisphere, emphasizing economic viability and collaboration among American nations. Bolivia is ready to engage positively in these discussions while also prioritizing its own national interests and building relationships to support growth and stability.

We are open for business in Bolivia. However, this does not mean we are compromising our future.

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Bolivia is rich in natural resources, including natural gas, agricultural land, forests, and strategic minerals like lithium, copper, and tin, which are increasingly vital globally. Yet, we don’t want to repeat the mistakes of countries that sold their resources for years and stayed impoverished.

It’s essential for Bolivia to not just extract minerals, ship them away, and watch as others reap the benefits of technology and jobs. We are looking for long-term partnerships focused on employment, training, technology development, infrastructure, productivity, and adding value right here in Bolivia.

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Our message to American and international investors is clear: Bolivia is ready to welcome investment, capital, technology, and expertise. We’re looking for companies that want to build, produce, create jobs, provide training, and grow together with Bolivian workers and businesses.

As I mentioned at the United Nations, Bolivia aims to engage with the world on its own terms.

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This means that economic growth should also benefit the Bolivian population. A more robust private sector shouldn’t disregard social responsibilities. Our goal is to generate better jobs, improve institutions, enhance education, increase security, and expand opportunities. We must safeguard our forests and the Amazon, respect Indigenous communities, and ensure that development yields real advantages for local residents.

The same principle holds true for our youth. Bolivia’s future hinges on whether they can find meaningful work and opportunities at home. Investment should be a catalyst for that future.

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Thus, Bolivia’s economic philosophy revolves around a straightforward idea: collaborate with the United States, neighbors, and the global community; welcome constructive investment; promote entrepreneurship; expand private enterprise; and ensure that wealth produced in Bolivia directly benefits Bolivians.

Not all issues have been resolved yet. We’re just getting started.

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But Bolivia is determined not to remain stagnant. We will rise, advance, and rebuild.