embassy: Avenida Arce 2780, San Jorge, La Paz
mailing address: P. O. Box 425, La Paz; APO AA 34032
telephone: [591] (2) 432254
FAX: [591] (2) 433854
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: Bolivia, long one of the poorest and least developed Latin American countries, has made considerable progress toward the development of a market-oriented economy. Successes under President SANCHEZ DE LOZADA (1993-97) included the signing of a free trade agreement with Mexico and joining the Southern Cone Common Market (Mercosur), as well as the privatization of the state airline, telephone company, railroad, electric power company, and oil company. His successor, Hugo BANZER Suarez has tried to further improve the country's investment climate with an anticorruption campaign. Growth slowed in 1999, in part due to tight government budget policies, which limited needed appropriations for anti-poverty programs, and the fallout from the Asian financial crisis. In 2000, major civil disturbances in April, and again in September and October, held down overall growth to 2.5%.
GDP: purchasing power parity - $20.9 billion (2000 est.)
GDP - real growth rate: 2.5% (2000 est.)
GDP - per capita: purchasing power parity - $2,600 (2000 est.)