The United States welcomes today’s announcement by President Rodrigo Paz of a significant economic reforms package aimed at restoring stability, prosperity, and investment to Bolivia after decades of failed policies.

We recognize that the path ahead will not be easy. The Bolivian people have endured years of economic stagnation, corruption, and mismanagement. The reforms announced today are a necessary course correction that lays the foundation for a more prosperous and secure future for all Bolivians. The United States will work with the Government of Bolivia to ensure these reforms bring dividends for the Bolivian people in the shortest possible time.

We applaud President Paz’s historic efforts to open Bolivia to the world by committing to meaningful reforms to attract international investment. Openness to investment, sound economic management, and respect for the rule of law are essential to unlocking Bolivia’s full potential. U.S. government officials are currently in Bolivia seeking to facilitate investments that will foster prosperity for both our nations.

The United States stands ready to support Bolivia’s transition and to deepen our partnership.