# Who Runs Bolivia's Economy, the Key Players in 2026

> Bolivia's economy faces shrinkage as key players shift power in 2026.
- Title: Who Runs Bolivia's Economy, the Key Players in 2026 | Shortify
- Summary: Bolivia's economy faces shrinkage as key players shift power in 2026. Bolivia's economy is forecast to shrink 3.0% in 2026 and 1.5% in 2027, with President…
- Keywords: bolivia, economy, president rodriago paz, economy minister christian morales, central bank president david espinoza, ypfb, mining, lithium, imf, dollar rate, bolsa, bancos
- Source: The Rio Times — https://riotimesonline.com/bolivia-economy-key-players-2026
- Author: Contributing Reporter
- Published: 2026-10-19T09:15:16+00:00
- Read time: 2 min
- Topics: bolivia, economy, president rodriago paz, economy minister christian morales, central bank president david espinoza, ypfb, mining, lithium, imf, dollar rate, bolsa, bancos
## Bolivia's Economic Forecast
Bolivia's economy is forecast to shrink 3.0% in 2026 and 1.5% in 2027, the only South American nation with declining output in the IMF outlook.
## Government Leadership
President Rodrigo Paz took office in November 2025 and replaced Economy Minister José Gabriel Espinoza with Christian Morales in August 2026.
## Central Bank Shift
The central bank ended its 15-year fixed dollar rate of Bs 6.96 on 29 June 2026, moving to a floating regime with an official rate of Bs 11.69 for 17 to 19 October 2026.
## State Oil Giant
YPFB, Bolivia's state oil and gas company, paid the most tax in 2025 at Bs 3.59 billion (about US$515 million) and represents 22% of national revenue.
## Mineral Exports Surge
Mineral exports reached US$4.45 billion in the first half of 2026, up 91% from the previous year, surpassing hydrocarbons at US$509.9 million.
## Lithium Contracts Stalled
Bolivia's lithium contracts with Chinese and Russian partners are stalled in the Assembly, awaiting Constitutional Court rulings on Indigenous community objections.
## Fuel Price Crisis
Diesel prices rose from Bs 3.72 to Bs 9.80 a litre in 2025, then were reduced to Bs 17.95 a litre in September 2026 after protests.
## Banking Sector Growth
Regulated banks earned about US$540 million in 2025, with Banco Ganadero paying Bs 657.7 million (about US$95 million) as the fourth-largest taxpayer.
## IMF Program Approval
The IMF approved a 36-month arrangement worth about US$1.9 billion on 2 October 2026, with US$214 million paid immediately.
## Santa Cruz Agribusiness
Soy and derivatives earned US$448.1 million in the first half of 2026, with beef up 46% and sugar up 72%.
## Economic Challenges
Bolivia's economy shrank 1.6% in 2025 while consumer prices rose 19.5% on average, with the IMF projecting a 100.2% public debt-to-output ratio in 2026.
## State Company Taxation
YPFB's tax contribution fell from 13.7% to 9.3% of national revenue in 2025, despite paying the most tax among companies.
## Lithium Market Concerns
Bolivia's lithium contracts with Chinese and Russian partners face uncertainty as Indigenous communities file popular actions and the Constitutional Court seeks expert opinions.
## Fuel Subsidy Impact
Bolivia imports US$2.9 billion worth of fuel in 2025, with diesel prices rising to Bs 17.95 a litre in September 2026 after protests.
## Economic Reforms
President Paz promised a 30% cut in the state apparatus and decrees to close or audit loss-making state enterprises.
## What's Next
Bolivia's economy faces continued shrinkage in 2026 and 2027, with the IMF program and lithium contracts determining future economic stability.
## Key takeaway

Bolivia's economy is forecast to shrink 3.0% in 2026 and 1.5% in 2027, with President Rodrigo Paz, Economy Minister Christian Morales, and central bank president David Espinoza steering the country's economic direction.