The International Monetary Fund said on May 14 it stands ready to assess a formal financing request from Bolivia, a week after the government of President Rodrigo Paz confirmed it is seeking a package of up to $3.3bn to address a dollar liquidity crunch.

"The underlying policy proposals and financing needs would be promptly assessed by staff," an IMF spokesperson said in a statement to IntelliNews, adding that the Fund was encouraged by the government's commitment to a stabilisation plan addressing fiscal imbalances and foreign exchange shortages while protecting social spending.

The spokesperson confirmed awareness of public statements by Bolivian authorities acknowledging the discussions, but noted that any request for an IMF programme remained the prerogative of the authorities. A Fund-supported arrangement would be based on a comprehensive policy package tailored to Bolivia's circumstances, the spokesperson added.

Finance Minister José Luis Lupo confirmed earlier this month that the government was in talks with the IMF, reversing a denial he had made in February when the $3.3bn figure first surfaced in media reports. Lupo described the prospective arrangement as a financing-and-reform package linked to economic progress rather than a standalone loan.

The Andean nation faces $2.3bn in external debt obligations falling due in 2026 against a backdrop of declining natural gas export revenues. The Paz administration has already secured close to $8bn in multilateral financing in its first six months, including $3bn from CAF, the Development Bank of Latin America, and $4.5bn from the Inter-American Development Bank.

Economy Minister Gabriel Espinoza said the government had maintained contact with the IMF since taking office, describing each step as important while preserving its own economic policy framework.

Economists have broadly welcomed the move but said it came late. According to Bolivian outlet El Diario, Ernesto Bernal, a professor at the Technical University of Oruro, argued the government should have approached the Fund at the outset and said Bolivia had lost six months in addressing its crisis. Analyst Gonzalo Chávez said the IMF talks, combined with existing multilateral commitments, could push total external support toward the $10bn-$12bn range economists regard as necessary for stabilisation.