Bolivian President Luis Arce faced an attempted coup on Wednesday night, as he continues to grapple with economic challenges and political tensions. Arce, a 60-year-old leftist who opposes Washington-backed free-market and neoliberal policies, studied economics in London before serving as the economy minister under President Evo Morales.
Morales, who was president from 2006 to 2019, is an icon of the Latin American left and helped Bolivia become a significant energy producer. However, after his departure in 2019, Arce assumed the presidency amid protests and military pressure. Bolivia’s economic trajectory has mirrored Arce’s career from boom to bust. He worked in the Central Bank from 1987 to 2006 and helped administer the “Bolivian Miracle” of increased metals and hydrocarbons prices.
By the time Arce took office, Bolivia was struggling due to the COVID-19 pandemic and social tensions following Morales’ departure. Neoliberal reforms in the 1990s had helped Bolivia become a significant energy producer, moving from a low-income to a middle-income nation. Poverty rates fell, infrastructure improved, and cities grew. However, economic challenges emerged after 2014 as Arce described Bolivia’s recession as the worst in 40 years due to production shortfalls and high food prices burdening households. Tensions between Morales and his party continued to escalate, with Arce criticizing his opponents for allegedly plotting new coups.
In response to this attempted coup against him on Wednesday night, Arce called on his supporters for calmness and peaceful demonstrations while condemning those involved in destabilizing his government through violent means.
Despite facing this threat of violence against his leadership, Arce remains determined to continue working towards improving Bolivia’s economy and ensuring that its citizens have access to basic necessities such as healthcare, education