Bolivia to use a CRIPTO for energy imports Supplied by US dollar deficiency: Report

Bolivi’s state-owned energy company IPFB will start using the CRIPTO to pay for the fuel imports as the country catches a strong lack of American dollars and unstable natural gas production.

The decision follows the authorization to use digital assets for the purchase of energy consumers, because Bolivia is struggling to maintain fuel subsidies in the middle of foreign exchange reserves, in accordance with Reuters reporting.

Going comes as long lines at gas stations and scattered protests indicate deterioration of fuel crisis.

“From now on, these (cryptocurrencial) transactions will be implemented,” said IPFB spokesman, emphasizing the urgency of energy resources insurance despite financial restrictions.

Supply of maternal supply of Bolivia

Once the net exporter of energy, Bolivia saw its gas production due to the lack of large new discoveries, forcing it to relies on imports.

Santa Cruz, Bolivia, recently faced Heavy lack of diesel, which led to blockade and threats. Farmers in Concepcin and Iapacani protested blocking highways, distracting trade and endangering their summer harvest.

Public transport was managed in reduced capacity, and the carriers gave the government 48-hour ultimatum before the unspecified strike was initiated.

Bolivi’s Ministry of Hydrocarbons and Energy announced Planning National Electricity System for 5,290 MV from 2026. To 2050. years, priority to renewable energy sources such as wind, solar, hydropower plants and geothermal forces.

This initiative aims to improve energy security, sustainability and leadership in Bolivia in renewable energy.

The government official confirmed that although the company has not yet used digital currencies for payments, the plans are in force for that.