Bolivia To Nationalize By July

Bolivia’s president, Evo Morales, has promised that by July 12 this year “the Bolivian people will have their natural resources nationalized”. Morales’ pledge came at the inauguration of a national literacy program in Camiri in the eastern province of Santa Cruz. July 12 is the 71st anniversary of the founding of Camiri. Morales has long said that he intends to increase the share of the state in Bolivia’s natural resources although he has confirmed that this will not involve the confiscation of assets. The energy ministry is currently working on the details of a new decree overhauling the sector. Investors are keen to learn how Morales’ process of “nationalization” will unfold.