Bolivia says farewell to the Bonosol

Article Abstract:

The Peruvian and Bolivian governments are changing the ways that privatizations are administered. In Peru, privatization commission Copri has absorbed Promcepri, the enterprise charged with speeding up the concessions, with both entities under control of the Labour Ministry. The reorganisation threatens the pace of Peruvian privatization. In Bolivia, the planned universal pension scheme funded from capitalization, known as Bonosol, is to be abolished. The plan was to give Peru's old people half shares in the privatisation of the five largest state companies, but the money is to be diverted to fund other public programs.

Economic policy, Peru

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Bolivian pensions privatised

Article Abstract:

Bolivia's collective capitalisation fund is to be administered exclusively for a five-year period from 1997 by consortia led by Argentaria and Banco Bilbao Vizcaya. This fund is made up of the 50% stake corresponding to the Bolivian people from the transfer of state-owned companies to the private sector. The two consortia will also deal with the more than 300,000 Bolivians who at present contribute to the state social security scheme. They will be responsible for recruiting new affiliates and for managing the fund in similar ways to pension fund administrators in Chile and Peru.

Pension, health, and welfare funds, Pension Funds & Benefit Plans, Pension Funds, Contracts, Banco Bilbao-Vizcaya S.A., Argentaria Corporacion Bancaria de Espana S.A.

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Bolivia capitalises YPFB with $835m

Article Abstract:

Bolivia capitalised its oil and gas company Yacimientos Petroliferos Fiscales Bolivianos in December 1996. Capitalisation is Bolivia's unique model of privatisation with a 50% share and full management control going to the highest bidders. Shares in the oil and gas field were sold as two blocks to Amoco and an Argentine consortium comprising YPF, Perez Companc and Pluspetrol. The transport unit went to a consortium of Enron and Shell. The $835 million sale will allow further gas field development and the construction of the Bolivia-Brazil gas pipeline.

OIL AND GAS EXTRACTION, Oil & Gas Extraction, Securities, Gas industry, Natural gas exploration, Petroleum mining, Oil and gas exploration, Petroleum exploration, Yacimientos Petroliferos Fiscales Bolivianos

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