LA PAZ, Jan. 2 (Xinhua) -- Bolivia ended 2024 with a notable increase in Net International Reserves (NIR), which reached 1.976 billion U.S. dollars, up 267 million dollars from 2023, the Central Bank of Bolivia (BCB) reported Thursday.

BCB President Edwin Rojas emphasized the stability achieved despite challenging domestic and international conditions.

"For three consecutive quarters, international reserves grew consistently, reflecting resilient and efficient management," Rojas told a press conference.

He attributed the performance to navigating high global interest rates, which increased external debt servicing costs, and elevated oil prices.

Rojas said Bolivia met all external obligations in 2024, paying 1.526 billion dollars in public external debt service. Fuel imports cost 2.381 billion dollars, while the Central Bank supplied 723 million dollars in foreign currency to the financial system and individuals.

To bolster reserves, the BCB purchased 14.54 metric tons of fine gold from the domestic market, raising total gold reserves to 22.53 metric tons by year-end.

"Through these efforts, the Central Bank secured 1.618 billion dollars in 2024, maintaining reserve stability and Bolivia's positive international image," Rojas said. ■