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Latin Times
Latin Times
Politics
Mateo Moreno

Bolivia's $1.9 Billion IMF Deal Reaches Congress — But Santa Cruz Just Set a Deadline That Could Blow It Up

A demonstrator carries a placard reading "No diesel, no production" during a protest march by coca growers from the Chapare region and supporters of former president Evo Morales against the economic and social measures of President Rodrigo Paz's government, including an increase in diesel prices, in Cochabamba, Bolivia, on September 4, 2026. (Credit: Photo by David FLORES / AFP via Getty Images)
  • Bolivia's government has formally sent its $1.9 billion IMF rescue package to Congress as Bill 723, but as of September 7 neither lawmakers nor the IMF's Executive Board have voted on it.
  • Santa Cruz's leading civic group has called an "Asamblea de la Cruceñidad" for Wednesday, September 9, to decide how hard to push back against a diesel-pricing decree producers blame for ongoing shortages.
  • Bolivia floated its currency in June, so a diesel price that looked alarming in dollars back in December now works out to roughly $3 a gallon instead of $5-plus — and December's minimum-wage raise is worth less in dollars today, too.
  • A new economy minister, Christian Morales, has taken over IMF negotiations after his predecessor was censured by Congress and removed from office in August.

Five weeks after Bolivia and the International Monetary Fund struck a $1.9 billion rescue deal, the government has cleared its first domestic hurdle, routing the package to Congress as Bill 723, even though neither lawmakers nor the Fund's own board have signed off. At the same time, a fight over diesel prices that Bolivia's business hub blames on the loan is coming to a head this week.

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