Bolivia (Plurinational State of) Tenders

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Capital Sucre
ISO 3166 Code BO
Population 11,410,651
Area, Sq KM 1,098,580
Currency Boliviano
Official Language Spanish, Quechua, Aymara
GDP, Billion USD 30,601
GDP Growth Rate, % 5.8
Inflation, Avg CP, % Chng 1.84
Interest Rates, % N/A
Unemployement Rate, % 6.28
Exchange Rate, 1 USD Equals 6.89
International dial code 591
Time Zone GMT-04:00
Internet TLD .bo

Bolivia is situated in western-central South America and shares its boundary with Brazil to its east and north, with Argentina and Paraguay to its south, Peru to the west and Chile to the south west. The country is known as Plurinational State of Bolivia. The official language of this country is Spanish and the population is estimated approximately around 10 million. It is considered 28th largest country in the world and fifth largest country in South America. One can witness a great variety of climates and terrains in this country. Known for the highest level of bio-diversity, Bolivia also has various ecological sub units and eco regions including tropical and Amazon rain forests. Before Spanish Colonization took place, Bolivia’s Andean region was a part of the Inca Empire. The eastern and northern lowlands were however inhabited by independent tribes. Bolivia, during the period of Spanish Colonization was administered by the Royal Court of Charcas. The modern Bolivia however is divided into nine departs. It has a medium ranking in Human Development Index and is considered a developing country. In the year 2012, the GDP of the country was reported at an official exchange rate to be 27.43 billion dollars and 56.14 billion dollars at purchasing power parity rate. Despite of a few political setbacks, the country showed promising growth which was further accompanied by decrease in inequality. The country’s economy depends largely on forestry, fishing, agriculture, manufacturing goods and commodities such as refined petroleum, clothing, refined metals and textiles. The country is known to have rich sources of minerals especially tin. According to US Geological Survey, Bolivia has 5.4 million cubic tonnes of lithium which constitutes from 50 to 70 percent of the total reservoirs in the world. But in order to mine the lithium, the government needs to disturb one of the famous tourist spots of Bolivia which plays a very important role in promoting tourism and therefore the government is reluctant to do so. However, during the early 1980’s a significant decline in the prices of tin was seen which drastically affected the economy of the country. But since 1985, the government has taken necessary steps to promote structural reform and microeconomics stabilization so that scarcity can be elevated and prices can be stabilized. The hydrocarbon and telecommunications sectors have encouraged private investments. Bolivia also has the second largest reservoir of natural gas. Since the year 1990, the tourism industry has shown some promising changes and has grown with a steady pace with time.

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