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Bolivia and Argentina promote energy integration

Bolivia and Argentina promote energy integration
Photo: Prensa Latina

June 1 |

The presidents of Bolivia and Argentina, Luis Arce and Alberto Fernández, respectively, lead today in the department of Tarija the inauguration of the 132 kV Juana Azurduy de Padilla international interconnection power line.

Fernandez arrived this Thursday at the Tarija airport of Yacuiba and went to the town of Yaguacua, where he held a meeting with his peer and host, and later both proceeded to inaugurate the electricity transmission line.

The energy supplier has a length of 120 kilometers (46.49 in Bolivia and 73.88 in Argentina) and connects the Yaguacua substation in Bolivia with the Tartagal substation in Argentina.)

This project will allow the transportation of electric energy from the Andean-Amazonian nation to the neighboring country with an estimated power of 120 megawatts (MW).

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The work required an investment of 364 million Bolivianos (US$364 million), concluded in March 2018 in Bolivia and in May 2019 on the Argentine side.

“It is an honor and a joy to receive in Yacuiba, Tarija, our brother president, Alberto Fernández, to deliver a work of great importance for our peoples,” Arce wrote on his Twitter account.

According to the news agency Télam, for Argentina “the import of energy from Bolivia results in an improvement in the voltage levels in the northern area (…), especially at hours of high demand”.

This exporting operation should have started in October 2019, and the works were interrupted in 2020, during the de facto government of Jeanine Áñez.

After the rescue of democracy with the electoral triumph of Arce that same year, in 2021, Empresa Nacional de Electricidad (ENDE) through its subsidiary ENDE Transmisión Argentina S.A. (ETASA), resumed the construction of the section in Argentine territory.

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The work was completed in October 2022, after which the line and generation testing stages were carried out.

On March 13 of this year, Bolivia began exporting, for the first time in bilateral history, 60 MW to Argentina with the possibility of reaching up to 120 MW.

Arce and Fernández are currently leading the inauguration ceremony in an evening attended by ministers of both nations, legislators, leaders of social organizations and neighbors of the Chaco region of Yaguacua.

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International

US panel backs Trump-themed coin amid controversy

The United States Department of the Treasury confirmed to AFP that the Commission of Fine Arts approved the design of a new collectible coin featuring Donald Trump, with members of the commission appointed by the current administration.

According to the proposal, the coin will feature an image of Trump standing with clenched fists over a desk on the obverse, while the reverse will display an eagle, a traditional symbol of the United States.

The sale price of the collectible has not yet been disclosed, although the United States Mint typically offers similar items for more than $1,000.

“There is no more iconic portrait for the front of these coins than that of our president Donald Trump,” U.S. Treasurer Brandon Beach said in a statement sent to AFP. He added that two additional coins — a $1 piece and a one-ounce gold coin — are also under consideration.

However, the Citizens Coinage Advisory Committee (CCAC), another body responsible for reviewing new coin proposals, declined to discuss the Trump design in late February.

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“Only nations governed by kings or dictators place the image of a sitting leader on their currency,” said Donald Scarinciat the time. “No country in the world has minted coins featuring a democratically elected leader during their term in office,” he added.

When contacted by AFP, the Treasury Department did not immediately respond to requests for further comment.

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International

Fed’s Waller warns of rising inflation risks amid Middle East conflict

Christopher Waller, a governor at the Federal Reserve, said Friday that he is increasingly concerned about the inflationary impact of the ongoing conflict involving United States and Israel against Iran, particularly due to the prolonged closure of the Strait of Hormuz.

Waller, who had supported interest rate cuts over the past year amid concerns about the labor market, said he has shifted his stance in recent weeks due to rising inflation risks.

“Since the Strait of Hormuz was closed, it suggests this conflict could be much more prolonged and that oil prices will remain elevated for longer,” Waller said in an interview with CNBC.

“Therefore, this indicates that inflation is a greater concern than I had previously assessed,” he added.

Waller also backed the Federal Reserve’s decision earlier this week to keep interest rates unchanged, signaling a more cautious approach as global geopolitical tensions continue to affect economic outlooks.

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Brazil offers to mediate Colombia-Ecuador tensions, calls for restraint

The government of Brazil has offered to mediate in the ongoing tensions between Colombia and Ecuador, while calling on both nations to exercise restraint.

In a statement released Wednesday, Brazil’s Ministry of Foreign Affairs urged the parties involved to act with moderation and seek a peaceful resolution to the dispute.

“Brazil encourages all sides to act with moderation in order to find a peaceful solution to the controversy. It stands ready to support dialogue efforts aimed at preserving peace and security in the region,” the statement said.

Brazil also expressed “serious concern” over reports of deaths in the border area between Colombia and Ecuador, noting that the circumstances surrounding the incidents have not yet been clarified.

The diplomatic move comes amid rising tensions between the neighboring countries, increasing regional concern over stability and security along their shared border.

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