Bolivia has declared an economic emergency as President Rodrigo Paz announces the scrapping of fuel subsidies that have been in place for two decades. In a significant move, the president raised the minimum wage by 20%, aiming to provide relief to citizens during the ongoing economic turmoil. The decision to eliminate fuel subsidies comes as the private sector is set to take over fuel supply, citing its financial capacity to ensure consistent provision. This initiative marks a dramatic shift from previous economic policies amidst a severe economic crisis.