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Bolivia Braces for Economic Change

Oct 17, 2015 | 13:02 GMT
Bolivia inaugurates its Carlos Villegas natural gas plant on Aug. 24.
Bolivia inaugurates its Carlos Villegas natural gas plant on Aug. 24.
(AIZAR RALDES/AFP/Getty Images)

After nearly a decade in power, Bolivian President Evo Morales seems poised to extend his rule even further. On Sept. 26, Bolivia's National Congress accepted Morales' petition to hold a national referendum in February 2016 on his ability to seek a fourth term in office. Given Morales' popularity and current lack of political challengers, he stands a good chance of succeeding in his bid to govern Bolivia until 2025. Despite the widespread support for Bolivia's longtime leader, the country's economic growth will likely begin to slow over the next few years. As it does, Morales will be forced to temper his traditionally populist policies and encourage growth in Bolivia's non-extractive industries if he hopes to keep the economy on track. ...

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