IMF cuts off credit to Bolivia
Bolivia is South America’s poorest country. Every night, 615,000 Bolivian children under 13 years of age go to bed hungry, according to a recent report by the United Nations World Food Program. Life in the countryside has changed little since colonial times, and cities lack basic public services. Clearly, there is an urgent need for infrastructure investments to help raise the living standards of the people in the Andean country.
This, ostensibly, is the role of international financial institutions like the International Monetary Fund (IMF), the World Bank and the Inter-American Development Bank. Nevertheless, the head of the IMF’s mission to Bolivia, Antonio Furtado, made an announcement last week that the IMF will not extend new credits to Bolivia.
axisoflogic.com
Bolivia rebuts Bush’s accusations of undermining democracy
The Bolivian government on Tuesday rebutted U.S. President George W. Bush’s criticism that Bolivia is eroding democracy, according to reports from La Paz, capital of Bolivia.
Bush’s criticism was “barely credible,” said Alex Contreras, spokesman for the Bolivian government. He called on Bush to respect Bolivia’s dignity and sovereignty.
“The administration of President Evo Morales is promoting and strengthening democracy,” said Contreras, noting the Bolivia-U.S. diplomatic ties should be without interference.”
He said no nations can force Bolivia to take a direction which it does not want to.
“It would be truer to say that the United States is eroding democracy,” said the spokesman, accusing Washington of supporting dictatorship and interfering in other countries’ internal affairs.