Bolivian Economic Crisis

Bolivia, as we know it today, is one of the poorest nations of the world, but it is not located in Africa or Indonesia, it is in the middle of South America. Bolivia was, in Colonial times, one of the richest nations in the World. So how can this wealthy nation have fallen so hard in such a short period of time? It might be hard to explain and even harder to understand. Many factors …

…graphical and atmospheric disadvantages. The road to fighting poverty seems long and hard, but Bolivians are determined to try macroeconomic reforms like capitalization and privatization and hopefully to adopt newer reforms in taxes, informal sectors, and more flexible credit allocations in order to create employment and to develop at least the minimal living conditions for the more than 8,000,000 people that every night go to bed with the hope of a better tomorrow (Bolivian Gov. pg 11)