btn_subscribe-top
btn_give-a-gift
btn_login
btn_signup
btn_rss

Blog

Bolivia Nationalizes Electricity Companies

May 3, 2010

by AQ Online

Bolivian President Evo Morales announced on Saturday the nationalization of three private electricity firms in a move the government says will leave it in control of 80 percent of the country’s electricity production. In his speech commemorating international workers’ day, Morales said, “once again, a first of May, and as always we’re recovering our privatized companies.” The government claims the nationalizations will guarantee labor stability and lead to a 20 percent reduction in electricity rates. The moves are part of the employment stability and energy reduction agenda. 

Soon after the decree, police occupied the offices of three companies: Corani, Valle Hermoso and Guaracachi. Corani is half owned by a subsidiary of French company GDF Suez. Guaracachi's main partner is U.K.-based Rurelec, and Valle Hermoso is locally owned.

Comment on this post

Last year, Mr. Morales announced the takeover of a British Petroleum (BP) subsidiary, He has also nationalized oil and gas reserves in an effort to redistribute wealth to Bolivia's indigenous majority. Critics say the spate of nationalizations will reduce investor confidence in Bolivia and threaten the prospects for sustained future growth.

Tags: President Evo Morales, Nationalization in Bolivia, Bolivian Economic Policy, Foreign Investment in Bolivia

To speak with an expert on this topic, please contact the communications office at: communications@as-coa.org or (212) 277-8384.
blog comments powered by Disqus

 
 

Connect with AQ


Twitter YouTube Itunes App Store

 

AQ and Efecto Naím: NTN24 Partnership

June 1: This AQ-Efecto Naím segment looks at sustainable cities in the hemisphere.

 

Most Popular

MOST POPULAR ON AQ ONLINE

  • Most Viewed
  • Past:
  • 1 day
  • 1 week
  • 1 month
  • 1 year

AQ BLOGGERS REPORT FROM

Atlanta, GA
   Sabrina Karim
 
Bogotá, Colombia
   Jenny Manrique
 
Caracas, Venezuela
   Paula Ramón
 
Guatemala City, Guatemala
   Nic Wirtz
 
Mexico City, Mexico
   Juan Manuel Henao
 
Monterrey, Mexico
   Arjan Shahani
 
Montreal, Canada
   John Parisella
 
New York, NY
   Adam Frankel
   Christopher Sabatini
 
Ottawa, Canada
   Huguette Young
 
Rio de Janeiro, Brazil
   Stephen Kurczy
 
Salvador, Brazil
   Paulo Rogério
  
San Salvador, El Salvador
   Julio Rank Wright
  Carlos Ponce
 
Santiago, Chile
   Joseph Hinchliffe
 
Washington, DC
  Eric Farnsworth
  Liz Harper
  Christian Gómez, Jr.
  Christine Gomes
  Kezia McKeague