Bolivia Asks BRICS to Not Use Credit Ratings for Granting Loans

Bolivia proposed that the BRICS New Development Bank stop considering credit rating agencies’ assessments when evaluating loan applications, President Luis Arce said in a webcast press conference Tuesday.

• Arce said there is not “other alternative” to address Bolivia’s economic crisis in the short term than foreign loans
• NOTE: Bolivia Cut Further Into Junk by S&P as Debt Servicing Erodes
• Arce held bilateral meetings with several delegations during the BRICS summit in Brazil
  • Bolivia and India will hold talks on pharmaceutical investments focused on traditional medicine, Arce said
  • Bolivia and Russia discussed hydrocarbons and the status of the nuclear research center ...