"We declare a public calamity across the territory of Bolivia in order to attend the urgent economic needs caused by the negative effects of the coronavirus [pandemic]," it states.
The decree allows the country's government to ask for a loan from Bolivia’s Central Bank. It also allows the government to release more funds to help fight the pandemic. The additional funds have so far been blocked by the opposition-controlled Legislative Assembly led by former President Evo Morales’s party.
On Monday, Bolivia reported 71,181 Covid-19 cases, according to its health ministry. The death toll has reached 2,647.
The virus has spread rapidly through the country's political class.
At least 15 government officials have tested positive for Covid-19 since the pandemic started, including interim President Jeanine Áñez who announced she had recovered from the virus on Monday evening.