Bolivia's Natural Gas Reserves Are Running Dry, Deepening Its Energy Crisis

Bolivia's proven natural gas reserves have fallen to 3.7 trillion cubic feet, and exports have dropped by nearly 60% over the past decade. Natural gas accounts for about 70% of the country's power generation. Long-term underinvestment in the sector, combined with dwindling reserves, has triggered severe fuel shortages and economic turmoil. In September, the country's congress approved a $1.9 billion loan from the IMF, which was cleared by the IMF's executive board on October 2. The program requires Bolivia to cut fuel subsidies and significantly reduce public spending, and is expected to unlock up to $4 billion in additional financing from institutions such as the World Bank.