Macroeconomic Forecast Bolivia

BMI View: Bolivia's net international reserves continued to stock up in January, rising by 24.7% y-o-y to US$12.5bn. We expect this trend to continue over the coming quarters, underpinned by our relatively positive view for the country's balance of payments dynamics this year due to continued investment and relatively supportive metals prices. These factors help inform our forecast for international reserves to see 15.0% growth this year, ending 2012 at US$13.8bn.

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