The Legal 500

Bolivia

Editorial

 

Legal market overview

Bolivia’s economy grew an estimated 6.5% last year, the strongest growth rate in at least three decades according to the International Monetary Fund, with moderate inflation, drastically reduced government debt and a balanced budget. The country also managed to build up reserves of about $14bn, equal to more than half of its gross domestic product.

However, private investment still needs to be strengthened and many large public investment projects in the natural resources sector are behind schedule. While there has been notable progress in the development of rural areas, where a third of the nation’s population lives, precarious infrastructure and services continue to prevent more significant advances and general productivity remains limited.

Full-service firms Moreno Baldivieso Estudio De Abogados, Guevara & Gutiérrez S.C., Servicios Legales and C.R. & F. Rojas – Abogados are the most established firms and maintain their position as market leaders; key mid-sized firms Bufete Aguirre Soc. Civ. Abogados and Indacochea Asociados, Abogados Sociedad Civil also retain their share of international work. Boutique practices are sometimes seen providing top-tier specialised legal services on a par with larger firms, particularly in IP (Estudio Jurídico Orpan), tax (Araujo & Forgues) and labour and employment (Estudio Jurídico Carrasco & Carrasco – Abogados Asociados). Meanwhile, multi-jurisdictional operation Ferrere is increasingly coming to the fore, with a growing presence in Bolivia to match that of its offices in Uruguay and Paraguay.

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