Key facts
- Christian Morales was appointed Bolivia's economy and public finance minister.
- Morales replaces Jose Gabriel Espinoza, who was ousted by lawmakers.
- Bolivia faces falling natural gas output, low foreign-currency reserves, and dollar shortages.
- The government is negotiating with multilateral institutions for $7 billion to $10 billion in financing.
- President Paz urged Congress to pass a key investment bill.
Bolivian President Rodrigo Paz appointed Christian Morales as the new economy and public finance minister on Tuesday, aiming to maintain policy continuity as the nation grapples with a severe economic crisis. Morales, who previously served as deputy minister, takes over following the censure and removal of Jose Gabriel Espinoza by lawmakers last week.
The leadership change occurs at a critical juncture for Bolivia, which is contending with declining natural gas production, depleted foreign-currency reserves, and shortages of fuel and U.S. dollars. During Morales' swearing-in ceremony, President Paz emphasized that the new minister possesses intimate knowledge of the government's economic strategy and ongoing negotiations with international lenders.