Bolivia Calls On Pension Funds To Hand Over Oil Shares

Bolivia has called on two foreign-run private pension funds – belonging to Spain’s BBVA and Swiss Zurich Financial Services – to hand over the shares belonging to three of the country’s nationalized oil companies which they administer on behalf of the Bolivian people. A deadline of Thursday has been set by the government for the two funds – Previsión Bolivia, run by BBVA and Futuro de Bolivia, run by Zurich to transfer the assets to state-owned oil company YPFB. The combined worth of the shares under administration is around $1.6 billion, according to the government.