Bolivia's Central Bank Fights Inflation with Innovative Savings Plan

Bolivia's Central Bank Promotes UFV Savings to Combat Currency Devaluation In a move to stabilize the Bolivian economy and protect citizens' savings, the Central Bank of Bolivia (BCB) has launched an initiative encouraging the use of the Unidad de Fomento a la Vivienda (UFV). The UFV, or Housing Development Unit, is an index that adjusts automatically to the cost of living, safeguarding the value of savings against inflation. This measure is particularly important given recent economic fluctuations in the country. "The UFV serves as a benchmark to protect the value of money against rising prices," explains Alejandra Carrera, a journalist in the video produced by Unitel. "If the prices of goods and services rise, the money saved in UFV also rises, preventing losses due to inflation." To support this initiative, the BCB is providing banks with redeemable letters in UFV. This measure aims to facilitate the offering of UFV savings accounts and streamline electronic transfers between accounts. This will make it easier for Bolivians to access and manage their savings in a stable and secure manner. The BCB's actions are designed to protect the financial well-being of families and bolster economic stability. The government's commitment to supporting UFV savings demonstrates its proactive approach to managing economic challenges and ensuring the financial security of its citizens.

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El BCB incentiva a la población para que ahorre en UFV y evitar la devaluación …

1748540102 [embed]https://www.tiktok.com/@unitel.bo/video/7509911517442231608[/embed] El BCB incentiva a la población para que ahorre en UFV y evitar…