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Coin Edition 2025-03-13 05:00:00

Dollar-strapped Bolivia turns to crypto to pay for fuel, shifts global trade norms

Dollar-strapped Bolivia turns to crypto to pay for fuel, shifts global trade norms

Bolivia turns to crypto as dollar shortage disrupts fuel import payments Fuel subsidy cuts and crypto adoption spark economic uncertainty and public unrest Government militarizes fuel distribution as shortages and protests escalate Bolivia is taking a radical step to combat a severe dollar shortage. The state-run energy company, Yacimientos Petrolíferos Fiscales Bolivianos (YPFB), is switching to crypto to pay for fuel imports. This bold decision aims to keep fuel subsidies afloat and ensure a stable supply of gasoline and diesel. But the bigger question is: could this signal a wider trend? Dollar Shortage Triggers Crisis Bolivia’s foreign currency reserves have dried up, largely due to a sharp decline in natural gas exports. The nation, once a regional energy powerhouse, now depends on imported fuel. Importing that fuel, however, has become a nightmare. The central bank is struggling to maintain its currency reserves, causing fuel shortages, long lines at gas stations, and growing public unrest. Crypto: A Risky Lifeline? Desperate for a solution, the Bolivian government has authorized the use of digital assets for international transactions.… The post Dollar-strapped Bolivia turns to crypto to pay for fuel, shifts global trade norms appeared first on Coin Edition .

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