The Bolivian government pushed ahead with its moves to re-nationalise its energy industry, ordering foreign financial companies to surrender control over shares they administer for a public pension fund. The Bolivian government on Monday gave Spanish Banco Bilbao Vizcaya Argentaria SA, and Futuro SA of Swiss Zurich Financial Services three days to hand over the assets they administer for a fund used to pay pensions.
Venezuelan leader Hugo Chavez paid a last-minute visit of support to Bolivian President Evo Morales ahead of a hastily-arranged summit to avert a regional crisis over the Andean nation’s nationalisation of its natural gas sector. The socialist Chavez said he came to Bolivia late on Wednesday not to give advice but to offer ”congratulations and learn from Bolivia’s wisdom”.
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/ 21 December 2005
Bolivia’s future president Evo Morales, a coca producer under pressure to crack down on cocaine, has pledged to keep controls on coca but says he will study expanding the area where it can be legally grown. Morales on Tuesday also called on the United States to work with him to develop better ways of ending drug trafficking.