International organization participation: AG, ECLAC, FAO, G-11, G-77,
IADB, IAEA, IBRD, ICAO, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO,
Intelsat, Interpol, IOC, IOM, ISO (subscriber), ITU, LAES, LAIA, NAM,
OAS, OPANAL, PCA, RG, UN, UNCTAD, UNESCO, UNIDO, UPU, WCL, WFTU, WHO,
WIPO, WMO, WToO, WTrO
Diplomatic representation in the US: chief of mission: Ambassador Marcelo PEREZ Monasterios chancery: 3014 Massachusetts Avenue NW, Washington, DC 20008 telephone: [1] (202) 483-4410 through 4412 FAX: [1] (202) 328-3712 consulate(s) general: Los Angeles, Miami, New York, and San Francisco
Diplomatic representation from the US: chief of mission: Ambassador Donna Jean HRINAK embassy: Avenida Arce 2780, San Jorge, La Paz mailing address: P. O. Box 425, La Paz; APO AA 34032 telephone: [591] (2) 430251 FAX: [591] (2) 433900
Flag description: three equal horizontal bands of red (top), yellow, and green with the coat of arms centered on the yellow band; similar to the flag of Ghana, which has a large black five-pointed star centered in the yellow band
@Bolivia:Economy
Economy-overview: With its long history of semifeudal social controls, dependence on volatile prices for its mineral exports, and bouts of hyperinflation, Bolivia has remained one of the poorest and least developed Latin American countries. However, Bolivia has experienced generally improving economic conditions since the PAZ Estenssoro administration (1985-89) introduced market-oriented policies which reduced inflation from 11,700% in 1985 to about 20% in 1988. PAZ Estenssoro was followed as president by Jaime PAZ Zamora (1989-93) who continued the free-market policies of his predecessor, despite opposition from his own party and from Bolivia's once powerful labor movement. By maintaining fiscal discipline, PAZ Zamora helped reduce inflation to 9.3% in 1993, while GDP grew by an annual average of 3.25% during his tenure. President SANCHEZ DE LOZADA (1993-1997) vowed to advance the market-oriented economic reforms he helped launch as PAZ Estenssoro's planning minister. His successes included the signing of a free trade agreement with Mexico and the Southern Cone Common Market (Mercosur) as well as the privatization of the state airline, phone company, railroad, electric power company, and oil company. Furthermore, SANCHEZ DE LOZADA sponsored legislation creating private social security accounts for all adult Bolivians and capitalized these new accounts with the state's remaining 50% share in the privatized companies. Hugo BANZER Suarez took office in August 1997 and has proclaimed his commitment to the economic reforms of the previous administration.
GDP: purchasing power parity-$23.1 billion (1997 est.)
GDP-real growth rate: 4.4% (1997 est.)
GDP-per capita: purchasing power parity-$3,000 (1997 est.)
GDP-composition by sector: agriculture: 17% industry: 26% services: 57% (1995 est.)