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The Bolivian economy has been privy to macro-financial
risks and a great deal of political and social uncertainty.
In the mid nineties, the Bolivian Government organized bank
and corporate restructuring, providing clarity on regulatory
powers and insisting on prompt corrective action from banks.
The Government initiated a framework focused on bank resolution
and anti-money laundering. It supported reforms, which contributed
to the strengthening of the financial and corporate sectors,
the lowering of systemic risks, and the reduction of the
probability of crises in the future. The new policies have
resulted in a healthier corporate sector, which attract
higher levels of capital, and have opened access to credit
and capital for more sectors of the society.
Press
The Banker
Bolivia
- Shaken But Still Standing - In The Past Decade, The Bolivian
Banking System Has Faced Economic Crises Brought On By Social
Unrest But Has Withstood Them.
July 1, 2004
The Bolivian banking system has
proved resilient in the face of severe shocks due to social
unrest in the past few years. Levels of financial assets
have dropped by 40% since 1998. Banks are pulling out of
rural areas, where more than 40% of the population lives
because they found it to be not profitable to compete with
microfinancing institutions. The economy is now recovering
because of an increase in commodity prices and the revitalization
of neighboring economies, like Argentina.
Legislation
Contact
Regulatory Contact
Superintendencia de Bancos y Entidades Financieras (SBEF)
Plaza Isabel la Católica N°2507
La Paz, Bolivia
Tel: (591-2) 2431919
Fax: (591-2) 2430028
e-mail: sbef@sbef.gov.bo
Web: www.sbef.gov.bo/
Laws
Texto de la Ley de Bancos y Entidades Financieras Nº1488
modificado por la Ley 2297 el 20 de diciembre de 2001.
List
of Supervised entities
See, esp. http://www.bancosol.com.bo/
(micro-financial institution)
Highlights
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Bolivia