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August 11, 2025

Bolivia’s Macroeconomic Freefall, Part IV: Fiscal Fury Meets the Politics of the Impossible

Fortun argues that Bolivia's fiscal adjustment faces severe political and employment constraints, challenging bond-market optimism about a straightforward post-election turnaround.

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March 22, 2025

Bolivia’s Macroeconomic Freefall, Part III: Fiscal Space and the Fury Ahead

Fortun argues that losses at state enterprises deepen Bolivia’s fiscal financing gap, while declining gas exports, scarce reserves and informality limit its adjustment options. He contrasts these constraints with Argentina’s and examines the political obstacles to fiscal reform.

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