Tag Archives: South America

International Business Issues – Bolivia and Evo Morales

When the President of Bolivia, Evo Morales, nationalized a few of the country’s very large mines, he threw out the foreign operators who had put in all the infrastructure, and invested all the money in digging up those resources. These foreign investment companies, as well as the companies that were running the operations lost everything, and they were paying royalties and taxes to the Bolivian government under contract.

Evo Morales claimed in a speech that those resources belonged to the Bolivian people, specifically the Native Bolivian People, and native Indians of that land. Likewise, he said that the money that was generated from the minerals that were taken from those mines belongs to the Bolivian people, and the money generated should be used to help them live better lives, not to the profiteers of foreign companies. Continue reading