Bolivia's Ministry of Finance, alongside the Attorney General’s Office and pension-sector authorities, set out its response to a final ruling by the Supreme Court of the Netherlands in BBVA’s investment arbitration against the Bolivian state, confirming that Bolivia must pay compensation of around USD 105 million under an International Centre for Settlement of Investment Disputes award linked to the nationalisation of pension fund administration. The authorities said the arbitration, formally originating in 2017, found breaches of international standards including fair and equitable treatment and the prohibition of arbitrary measures, and framed the outcome as stemming from decisions taken by prior administrations in how the nationalisation and related legal process were handled. Measures announced include technical audits of current arbitration processes, a review to identify structural weaknesses in legal-administrative management and the transition processes that triggered disputes, and a strategy to identify responsible individuals. Once responsibilities are determined, the Attorney General’s Office said the state will initiate actions to recover losses and will seek to limit the economic impact. The Public Pension Fund Manager also stated that pension funds are independent and protected under existing rules, and will not be affected by the ruling.

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