Daily Archives: March 29, 2013

And this is how Bolivia intends to boost employment and fight poverty… nationalizations?!

Pagina Siete reports on the “achievements” of current central government’s doings… or wrongdoings??!!

Nationalizations

The country is facing at least 13 international arbitrations

Pagina SieteThe Attorney general of the State, Hugo Raúl Montero, reported yesterday that there are at least 13 processes of arbitration faced by Bolivia for the nationalization of transnational corporations.

The Authority said that virtually all electricity companies that were nationalized took proceedings, mainly relating to the amounts of compensation or remuneration that must be made by the [Bolivian] State.

“We have all the problems with the electrics, all processes of nationalization. All have generated controversies concerning the amount of compensation and fees that the State should develop, if I am not mistaken it is around 13, it is not an accurate figure”, said.

The Government of President Evo Morales nationalized foreign companies linked to the exploitation of oil, electricity, transport and minerals since 2006. Many of them require fair compensation agreement and in proportion to their investments. [let alone becoming less competitive and far less reliable to the rest of the world!]

The Government defends these processes on the grounds that they are measures that dignify the Bolivian State and end with the looting which have undergone by some foreign investment in the country.

Montero said that in parallel with the actions that trigger in the framework of the arbitration, there is also dialogue to amicably solve each of the cases.

“Our main task is the search for peaceful solutions, enterprises have the legitimate right to go to any instance, if it is that we can not agree” and the State will take over the defense, said Montero.

http://www.paginasiete.bo/2013-03-28/Nacional/Destacados/2Nac00228.aspx

Bolivia wastes the extraordinary period of incredible high prices on the commodities that we export. Current government’s hatred to capitalism and the USA, ended in irrational nationalizations that created a hole in foreign investment that we badly need to fight poverty!