Pero todo esto cambi\u00f3 este martes 13 de octubre reciente, cuando el gobierno del presidente Paz tom\u00f3 la franca decisi\u00f3n de nacionalizar los d\u00f3lares de la miner\u00eda aur\u00edfera. El D.S. 5747 obliga a los exportadores de oro a repatriar de forma obligatoria al pa\u00eds el 80% del valor computable de sus exportaciones en d\u00f3lares y depositarlos en bancos del sistema financiero. \u00bf\ud835\udc02\ud835\udc28\u0301\ud835\udc26\ud835\udc28 \ud835\udc1d\ud835\udc1a\ud835\udc2b\ud835\udc25\ud835\udc1e \ud835\udc2c\ud835\udc1e\ud835\udc27\ud835\udc2d\ud835\udc22\ud835\udc1d\ud835\udc28 \ud835\udc1a \ud835\udc2c\ud835\udc2e\ud835\udc2c \ud835\udc1d\ud835\udc22\ud835\udc2c\ud835\udc1c\ud835\udc2e\ud835\udc2b\ud835\udc2c\ud835\udc28\ud835\udc2c \ud835\udc1c\ud835\udc28\ud835\udc27 \ud835\udc25\ud835\udc1a \ud835\udc29\ud835\udc2b\ud835\udc1a\u0301\ud835\udc1c\ud835\udc2d\ud835\udc22\ud835\udc1c\ud835\udc1a\u2753<\/p>\n\n\n\n
\ud835\udc0b\ud835\udc1a \ud835\udc27\ud835\udc1a\ud835\udc1c\ud835\udc22\ud835\udc28\ud835\udc27\ud835\udc1a\ud835\udc25\ud835\udc22\ud835\udc33\ud835\udc1a\ud835\udc1c\ud835\udc22\ud835\udc28\u0301\ud835\udc27 \ud835\udc1d\ud835\udc1e \ud835\udc1d\ud835\udc22\ud835\udc2f\ud835\udc22\ud835\udc2c\ud835\udc1a\ud835\udc2c \ud835\udc1e\ud835\udc2c \ud835\udc2e\ud835\udc27\ud835\udc1a \ud835\udc29\ud835\udc2b\ud835\udc28\ud835\udc29\ud835\udc2e\ud835\udc1e\ud835\udc2c\ud835\udc2d\ud835\udc1a \ud835\udc2a\ud835\udc2e\ud835\udc1e \ud835\udc29\ud835\udc25\ud835\udc1a\ud835\udc27\ud835\udc2d\ud835\udc1e\ud835\udc1e\u0301 \ud835\udc1e\ud835\udc27 \ud835\udc26\ud835\udc22 \ud835\udc25\ud835\udc22\ud835\udc1b\ud835\udc2b\ud835\udc28 \ud835\udc0b\ud835\udc1a \ud835\udc04\ud835\udc1c\ud835\udc28\ud835\udc27\ud835\udc28\ud835\udc26\ud835\udc22\u0301\ud835\udc1a \ud835\udc0f\ud835\udc25\ud835\udc2e\ud835\udc2b\ud835\udc1a\ud835\udc25 como un mecanismo para transparentar los flujos de d\u00f3lares de la econom\u00eda, aplicable tanto a la miner\u00eda como a otros sectores exportadores. (El libro todav\u00eda se encuentra a la venta en la Editorial Plural por si a alguien le interesa).<\/p>\n\n\n\n
Sin embargo, considero que una pol\u00edtica de esta naturaleza no deber\u00eda descansar exclusivamente en mecanismos compulsivos. Su aplicaci\u00f3n deber\u00eda combinar obligaciones razonables con incentivos econ\u00f3micos y criterios de responsabilidad social. <\/p>\n\n\n\n
Tambi\u00e9n subray\u00e9 que la repatriaci\u00f3n de los d\u00f3lares de los exportadores no debe entenderse como una medida compulsiva de control de capitales, ya que no se busca que las divisas sean transferidas necesariamente al BCB, sino que ingresen a las cuentas de cualquier entidad financiera legalmente establecida en el pa\u00eds. Este mecanismo implica un seguimiento al uso que se le vaya a dar a esa divisa, que debe ser para financiar operaciones de comercio exterior a trav\u00e9s del sistema financiero. De esa manera, se estar\u00eda cumpliendo una funci\u00f3n social y contribuyendo a la estabilidad cambiaria. <\/p>\n\n\n\n
Pero la forma c\u00f3mo se lo ha implementado \ud835\udc1c\ud835\udc28\ud835\udc2b\ud835\udc2b\ud835\udc1e \ud835\udc1e\ud835\udc25 \ud835\udc2b\ud835\udc22\ud835\udc1e\ud835\udc2c\ud835\udc20\ud835\udc28 \ud835\udc1d\ud835\udc1e \ud835\udc1c\ud835\udc28\ud835\udc27\ud835\udc2f\ud835\udc1e\ud835\udc2b\ud835\udc2d\ud835\udc22\ud835\udc2b\ud835\udc2c\ud835\udc1e \ud835\udc1e\ud835\udc27 \ud835\udc2e\ud835\udc27 \ud835\udc26\ud835\udc1e\ud835\udc2b\ud835\udc1c\ud835\udc1a\ud835\udc1d\ud835\udc28 \ud835\udc1c\ud835\udc1a\ud835\udc2e\ud835\udc2d\ud835\udc22\ud835\udc2f\ud835\udc28 \ud835\udc29\ud835\udc1a\ud835\udc2b\ud835\udc1a \ud835\udc25\ud835\udc1a\ud835\udc1e\ud835\udc2c\ud835\udc29\ud835\udc1e\ud835\udc1c\ud835\udc2e\ud835\udc25\ud835\udc1a\ud835\udc1c\ud835\udc22\ud835\udc28\u0301\ud835\udc27 \ud835\udc1f\ud835\udc22\ud835\udc27\ud835\udc1a\ud835\udc27\ud835\udc1c\ud835\udc22\ud835\udc1e\ud835\udc2b\ud835\udc1a \ud835\udc1e\ud835\udc27 \ud835\udc1f\ud835\udc1a\ud835\udc2f\ud835\udc28\ud835\udc2b \ud835\udc1d\ud835\udc1e \ud835\udc25\ud835\udc28\ud835\udc2c \ud835\udc1b\ud835\udc1a\ud835\udc27\ud835\udc1c\ud835\udc28\ud835\udc2c.<\/p>\n\n\n\n
\ud835\udc04\ud835\udc25 \ud835\udc20\ud835\udc2b\ud835\udc1a\ud835\udc1d\ud835\udc28 \ud835\udc1d\ud835\udc1e \ud835\udc1e\ud835\udc1f\ud835\udc1e\ud835\udc1c\ud835\udc2d\ud835\udc22\ud835\udc2f\ud835\udc22\ud835\udc1d\ud835\udc1a\ud835\udc1d \ud835\udc1d\ud835\udc1e \ud835\udc1e\ud835\udc2c\ud835\udc2d\ud835\udc1a \ud835\udc29\ud835\udc28\ud835\udc25\ud835\udc22\u0301\ud835\udc2d\ud835\udc22\ud835\udc1c\ud835\udc1a, \ud835\udc1d\ud835\udc22\ud835\udc23\ud835\udc1e, \ud835\udc1d\ud835\udc1e\ud835\udc29\ud835\udc1e\ud835\udc27\ud835\udc1d\ud835\udc1e\ud835\udc2b\ud835\udc1a\u0301 \ud835\udc27\ud835\udc28 \ud835\udc2c\ud835\udc28\ud835\udc25\ud835\udc1a\ud835\udc26\ud835\udc1e\ud835\udc27\ud835\udc2d\ud835\udc1e \ud835\udc1d\ud835\udc1e \ud835\udc25\ud835\udc1a \ud835\udc1c\ud835\udc1a\ud835\udc29\ud835\udc1a\ud835\udc1c\ud835\udc22\ud835\udc1d\ud835\udc1a\ud835\udc1d \ud835\udc1c\ud835\udc28\ud835\udc1e\ud835\udc2b\ud835\udc1c\ud835\udc22\ud835\udc2d\ud835\udc22\ud835\udc2f\ud835\udc1a \ud835\udc1d\ud835\udc1e\ud835\udc25 \ud835\udc04\ud835\udc2c\ud835\udc2d\ud835\udc1a\ud835\udc1d\ud835\udc28, \ud835\udc2c\ud835\udc22\ud835\udc27\ud835\udc28\ud835\udc2d\ud835\udc1a\ud835\udc26\ud835\udc1b\ud835\udc22\ud835\udc1e\u0301\ud835\udc27 \ud835\udc1d\ud835\udc1e \ud835\udc25\ud835\udc1a \ud835\udc2f\ud835\udc28\ud835\udc25\ud835\udc2e\ud835\udc27\ud835\udc2d\ud835\udc1a\ud835\udc1d \ud835\udc1d\ud835\udc1e \ud835\udc1a\ud835\udc1c\ud835\udc28\ud835\udc26\ud835\udc29\ud835\udc1a\ud835\udc27\u0303\ud835\udc1a\ud835\udc26\ud835\udc22\ud835\udc1e\ud835\udc27\ud835\udc2d\ud835\udc28 \ud835\udc32 \ud835\udc1d\ud835\udc1e\ud835\udc25 \ud835\udc1c\ud835\udc28\ud835\udc26\ud835\udc29\ud835\udc2b\ud835\udc28\ud835\udc26\ud835\udc22\ud835\udc2c\ud835\udc28 \ud835\udc1d\ud835\udc1e\ud835\udc25 \ud835\udc2c\ud835\udc1e\ud835\udc1c\ud835\udc2d\ud835\udc28\ud835\udc2b \ud835\udc29\ud835\udc2b\ud835\udc22\ud835\udc2f\ud835\udc1a\ud835\udc1d\ud835\udc28 \ud835\udc32 \ud835\udc1d\ud835\udc1e\ud835\udc25 \ud835\udc2c\ud835\udc1e\ud835\udc1c\ud835\udc2d\ud835\udc28\ud835\udc2b \ud835\udc2c\ud835\udc28\ud835\udc1c\ud835\udc22\ud835\udc1a\ud835\udc25 \ud835\udc1c\ud835\udc28\ud835\udc26\ud835\udc2e\ud835\udc27\ud835\udc22\ud835\udc2d\ud835\udc1a\ud835\udc2b\ud835\udc22\ud835\udc28\ud835\udc1c\ud835\udc28\ud835\udc27 \ud835\udc25\ud835\udc1a\ud835\udc2c \ud835\udc29\ud835\udc28\ud835\udc25\ud835\udc22\u0301\ud835\udc2d\ud835\udc22\ud835\udc1c\ud835\udc1a\ud835\udc2c \ud835\udc1d\ud835\udc1e\ud835\udc2c\ud835\udc2d\ud835\udc22\ud835\udc27\ud835\udc1a\ud835\udc1d\ud835\udc1a\ud835\udc2c \ud835\udc1a \ud835\udc1e\ud835\udc2c\ud835\udc2d\ud835\udc1a\ud835\udc1b\ud835\udc22\ud835\udc25\ud835\udc22\ud835\udc33\ud835\udc1a\ud835\udc2b \ud835\udc25\ud835\udc1a \ud835\udc1e\ud835\udc1c\ud835\udc28\ud835\udc27\ud835\udc28\ud835\udc26\ud835\udc22\u0301\ud835\udc1a. Aplicar medidas obligatorias sin capacidades de control y sin acuerdos preestablecidos con los sectores involucrados puede llevar a la reapariaci\u00f3n de mercados negros.<\/p>\n\n\n\n
La nacionalizaci\u00f3n de divisas puede convertirse en una herramienta importante, pero su \u00e9xito depender\u00e1 de la efectividad con la que los d\u00f3lares regresen al pa\u00eds y contribuyan oportunamente a mejorar la liquidez externa y a estabilizar el mercado cambiario.Finalmente, es probable que el gobierno no quiera compartir el m\u00e9rito de esta medida con nadie, pero eso no es lo importante. Es m\u00e1s, las autoridades seguramente negar\u00e1n a los cuatro vientos cualquier afiliaci\u00f3n con la nacionalizaci\u00f3n o cualquier idea del pasado, pero como un d\u00eda dijo el propio presidente Paz: \u275e\ud835\udc0b\ud835\udc1a \ud835\udc22\ud835\udc1d\ud835\udc1e\ud835\udc28\ud835\udc25\ud835\udc28\ud835\udc20\ud835\udc22\u0301\ud835\udc1a \ud835\udc27\ud835\udc28\ud835\udc1d\ud835\udc1a \ud835\udc1d\ud835\udc1e \ud835\udc1c\ud835\udc28\ud835\udc26\ud835\udc1e\ud835\udc2b\u275e, y hoy lo est\u00e1 comprobando en carne propia: \ud835\udc1c\ud835\udc28\ud835\udc27 \ud835\udc25\ud835\udc1a \ud835\udc22\ud835\udc1d\ud835\udc1e\ud835\udc28\ud835\udc25\ud835\udc28\ud835\udc20\ud835\udc22\u0301\ud835\udc1a \ud835\udc1d\ud835\udc1e\ud835\udc25 \ud835\udc20\ud835\udc28\ud835\udc1b\ud835\udc22\ud835\udc1e\ud835\udc2b\ud835\udc27\ud835\udc28 \ud835\udc27\ud835\udc28 \ud835\udc25\ud835\udc1e \ud835\udc1a\ud835\udc25\ud835\udc1c\ud835\udc1a\ud835\udc27\ud835\udc33\ud835\udc1a.<\/p>\n","protected":false},"excerpt":{"rendered":"
Hace tiempo atr\u00e1s, la palabra nacionalizaci\u00f3n sonaba a herej\u00eda econ\u00f3mica, un vocablo propio de zurdos y pol\u00edticos nacionalistas. Los due\u00f1os del nuevo relato econ\u00f3mico acusaron a la nacionalizaci\u00f3n de los hidrocarburos como la responsable de la falta de inversiones en el pa\u00eds, lo que nos llev\u00f3 a la crisis de abastecimiento que hoy vivimos. La […]<\/p>\n","protected":false},"author":8,"featured_media":1231,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[4,32,3],"tags":[],"class_list":["post-1230","post","type-post","status-publish","format-standard","has-post-thumbnail","category-articulos","category-economia-plurinacional-2-0","category-muy-picante"],"jetpack_publicize_connections":[],"wpmagazine_modules_lite_featured_media_urls":{"thumbnail":["https:\/\/ajicolorado.com\/wp-content\/uploads\/2026\/10\/dolares-y-bolivianos-150x150.jpg",150,150,true],"cvmm-medium":["https:\/\/ajicolorado.com\/wp-content\/uploads\/2026\/10\/dolares-y-bolivianos-300x300.jpg",300,300,true],"cvmm-medium-plus":["https:\/\/ajicolorado.com\/wp-content\/uploads\/2026\/10\/dolares-y-bolivianos-305x207.jpg",305,207,true],"cvmm-portrait":["https:\/\/ajicolorado.com\/wp-content\/uploads\/2026\/10\/dolares-y-bolivianos-400x451.jpg",400,451,true],"cvmm-medium-square":["https:\/\/ajicolorado.com\/wp-content\/uploads\/2026\/10\/dolares-y-bolivianos-600x451.jpg",600,451,true],"cvmm-large":["https:\/\/ajicolorado.com\/wp-content\/uploads\/2026\/10\/dolares-y-bolivianos-1024x451.jpg",1024,451,true],"cvmm-small":["https:\/\/ajicolorado.com\/wp-content\/uploads\/2026\/10\/dolares-y-bolivianos-130x95.jpg",130,95,true],"full":["https:\/\/ajicolorado.com\/wp-content\/uploads\/2026\/10\/dolares-y-bolivianos.jpg",1280,451,false]},"categories_names":{"4":{"name":"ART\u00cdCULOS","link":"https:\/\/ajicolorado.com\/?cat=4"},"32":{"name":"ECONOMIA PLURINACIONAL 2.0","link":"https:\/\/ajicolorado.com\/?cat=32"},"3":{"name":"MUY PICANTE","link":"https:\/\/ajicolorado.com\/?cat=3"}},"tags_names":[],"comments_number":"0","brizy_media":[],"_links":{"self":[{"href":"https:\/\/ajicolorado.com\/index.php?rest_route=\/wp\/v2\/posts\/1230","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ajicolorado.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ajicolorado.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ajicolorado.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/ajicolorado.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1230"}],"version-history":[{"count":1,"href":"https:\/\/ajicolorado.com\/index.php?rest_route=\/wp\/v2\/posts\/1230\/revisions"}],"predecessor-version":[{"id":1232,"href":"https:\/\/ajicolorado.com\/index.php?rest_route=\/wp\/v2\/posts\/1230\/revisions\/1232"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ajicolorado.com\/index.php?rest_route=\/wp\/v2\/media\/1231"}],"wp:attachment":[{"href":"https:\/\/ajicolorado.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ajicolorado.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1230"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ajicolorado.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}