Diplomatic representation from the US: chief of mission: Ambassador
V. Manuel ROCHA embassy: Avenida Arce 2780, San Jorge, La Paz mailing
address: P. O. Box 425, La Paz; APO AA 34032 telephone: [591] 243-3812
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
Economy Bolivia
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 becoming an associate member of the Southern Cone Common Market (Mercosur), as well as the privatization of the state airline, telephone company, railroad, electric power company, and oil company. 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%. Bolivia's GDP failed to grow in 2001 due to the global slowdown and laggard domestic activity. Growth is expected to pick up in 2002, but the fiscal deficit and debt burden will remain high.
GDP: purchasing power parity - $21.4 billion (2001 est.)
GDP - real growth rate: 0% (2001 est.)
GDP - per capita: purchasing power parity - $2,600 (2001 est.)
GDP - composition by sector: agriculture: 14% industry: 31% services: 55% (2000 est.)
Population below poverty line: 70% (1999 est.)
Household income or consumption by percentage share: lowest 10%: 0.5% highest 10%: 45.7% (1997)