Bolivia slashes diesel subsidies as its Congress ratifies $1.9 billion IMF deal to ease deep economic crisis

Bolivian lawmakers approved a $1.9 billion (€1.65bn) loan agreement with the International Monetary Fund on Friday, delivering the conservative government a key victory in its efforts to ease the country's deep economic crisis as unions threatened to renew protests. Just hours after Congress approved the loan, President Rodrigo Paz announced an immediate end to subsidies for the diesel powering Bolivia’s trucks, buses and tractors — a step towards meeting IMF demands. Gasoline, used mainly in private cars, would remain subsidised for now, though Paz had already scaled back that support in recent months.