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Bolivia is named after Simón Bolívar, a Venezuelan leader in the Spanish American wars of independence. [22] The leader of Venezuela, Antonio José de Sucre, had been given the option by Bolívar to either unify Charcas (present-day Bolivia) with the newly formed Republic of Peru, to unify with the United Provinces of the Río de la Plata, or to formally declare its independence from Spain ...
The president of Bolivia is the head of state and head of government of Bolivia, directly elected to a five-year term by the Bolivian people. The officeholder leads the executive branch of the government and is the captain general of the Armed Forces of Bolivia. Since the office was established in 1825, 65 men and 2 women have served as president.
Some Bolivian media called Arce the mastermind of Bolivia's economic resurgence. [7] He oversaw Bolivia's nationalization of hydrocarbon, telecommunications, and mining companies, as well as the creation of BancoSur. [8] He oversaw the rapid expansion of the Bolivian economy, with GDP increasing by 344% and extreme poverty reduced from 38% to 15%.
As president, Arce has struggled to manage a U.S. dollar shortage that has strained the economy and led credit-ratings agencies to downgrade Bolivia's debt to "junk" status.
Luis Arce, who studied economics in London, was economy minister under President Evo Morales, whose time in office from 2006 to 2019 made him an icon of the Latin American left. After Morales left ...
But by the time Arce took office, Bolivia was hard-hit by the COVID-19 pandemic and social tensions set off by Morales' 2019 departure after street protests and extreme pressure from the military. Neoliberal reforms in the 1990s helped Bolivia become a significant energy producer, and it moved from a low-income to a middle-income nation ...
The election of MAS candidate Luis Arce as Bolivia's president in 2020 facilitated Morales' return from exile. One day after new president Luis Arce was sworn into office, on 9 November 2020 Morales returned to Bolivia after 11 months abroad. [334]
LA PAZ (Reuters) -Bolivian armed forces took over the central square in La Paz on Wednesday and an armored vehicle rammed the entrance to the presidential palace as leftist President Luis Arce ...