Economic Background
The restoration of civilian rule to Bolivia in 1982 ended decades of military dictatorships, but did not bring economic stability. In 1985, with hyperinflation at an annual rate of 25 thousand percent, few foreign investors would do business in the country. The Bolivian government turned to the World Bank as a last refuge against economic meltdown. For the next 20 years, successive governments followed the World Bank's provisions in order to qualify for continued loans from the organization. In order to move towards independent development, Bolivia privatised its railways, telephone system, national airlines, and hydrocarbon industry.
Read more about this topic: 2000 Cochabamba Protests
Famous quotes containing the words economic and/or background:
“Under weak government, in a wide, thinly populated country, in the struggle against the raw natural environment and with the free play of economic forces, unified social groups become the transmitters of culture.”
—Johan Huizinga (1872–1945)
“Pilate with his question “What is truth?” is gladly trotted out these days as an advocate of Christ, so as to arouse the suspicion that everything known and knowable is an illusion and to erect the cross upon that gruesome background of the impossibility of knowledge.”
—Friedrich Nietzsche (1844–1900)