Bolivia Completes New Banknotes in Sign of Economic Stability

 

LA PAZ – The Central Bank of Bolivia has issued the last in a new family of banknotes on Tuesday in what it described as a sign of economic stability and low inflation in the country.

The bank’s president Pablo Ramos gave the country’s head of state, Evo Morales, one of the new 200 Bolivian bills, which came into circulation on Tuesday.

Ramos said that the act of launching the notes, the last of a series initiated a year ago, represents “another symbol of Bolivia.”

The head of the Central Bank said the notes have been adjusted “to the needs of the national economy” so that “there will be more than necessary” money in circulation.

“Money with stability is a guarantee for all,” he said.

He added that there has been level low prices in Bolivia “without inflation” for a year after the first of this series of bills was launched.

The first note to be issued was 10 bolivianos, which was followed by 20, 500, 100 and now 200.

Inflation in Bolivia stood at 1.06 percent last March, according to data from the central bank.

The issuing entity plans to circulate the new banknotes gradually while replacing the previous ones as they wear out by use, so that the mass in circulation is not increased, according to its president.

As with previous bills, the 200 bolivianos include images of historical characters and national symbols of Bolivia.

Images include the country’s liberator from the Spanish empire Simon Bolivar, indigenous leader Tupac Katari and his wife Bartolina Sisa, the House of Liberty in Sucre where the country’s independence was signed and the pre-Hispanic city of Tiahuanaco.

Morales joked that he thought he was going to be given “a package” of 200 bills, instead of just one symbolically.

He said the “patriotic symbols” represent the memory of struggles such as the indigenous movement, within the framework of the government’s policy to “continue with the task of decolonizing us.”

He added that the Bolivian is a currency “highly valued for example in Argentina,” where in border areas with Bolivia “save” in this currency before the fall of the Argentine peso against the dollar.

The Central Bank of Bolivia has remained unchanged since November 2011, with the exchange rate against the dollar at 6.96 bolivianos.

Morales said that the economic indicators of the country contribute to improve its image abroad.

The new banknotes include greater security measures to help tackle counterfeiting and were made from 100% cotton.

Bolivia was consolidated in 2009 to the Republic to the Plurinational State, with a new constitution.