Cut to CCC- and Deep in Crisis, Bolivia Posts Big Bond Rally (1)

Bolivia — a country battling the highest inflation in three decades, widespread shortages of everything from fuel to medical supplies and a burgeoning crisis of payments — is proving to be one of the best trades in all of emerging markets this year.

Its bonds, which climbed to among the top performers in emerging economies on Thursday, are trading at the highest in over two years even as the nation sees its economy collapse, leading to violent, almost daily protests. The deterioration, which started in 2023, pushed S&P Global Ratings to cut its credit score on Bolivia two notches last ...