In a speech marking Bolivia's 199th independence anniversary, President Luis Arce revealed plans for national referenda on critical issues facing the country. Arce proposed votes on the removal of fuel subsidies and the constitutionality of presidential reelections as a means to address economic challenges and political uncertainties.
The proposal to eliminate fuel subsidies comes amidst protests by truckers and citizens over diesel scarcity, exacerbated by Bolivia's heavy reliance on imported fuel. The government's financial strain from subsidizing fuel imports has pushed Bolivia to the brink of bankruptcy, with energy analysts highlighting the unsustainable nature of the current system.
Additionally, Arce announced a referendum on former presidents seeking reelection, aiming to resolve a dispute with ex-President Evo Morales. Morales' controversial bid for a fourth term in 2019 led to allegations of fraud and widespread unrest, ultimately forcing his resignation and exile.
The ongoing power struggle between Morales and Arce has fueled political turmoil, hindering legislative progress and economic stability. Arce's acknowledgment of Bolivia's challenges, including declining natural gas production and currency devaluation, underscores the severity of the situation.
Despite the referendum proposal, critics remain skeptical of its ability to address Bolivia's deep-rooted issues. The recent anniversary, marred by an alleged coup attempt and persistent fuel shortages, reflects the country's deepening economic and political crisis.
While Arce's referendum initiative signals a potential path forward, the road to stability remains uncertain as Bolivia grapples with complex challenges that threaten to further destabilize the nation.
