Word: bolivia
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...newly elected Bolivian President Evo Morales' May 1 announcement to nationalize his country's vast natural gas reserves by October 28 seemed like a bold gambit that could either enrich his impoverished nation - or easily backfire. He gave the foreign firms 180 days to agree to new contracts giving Bolivia 50% or more of the profits - up from the 18% agreed upon in 1997 - or else be forced to leave...
...countrymen, "Mission Accomplished." The ten new signed contracts that sat in front of him will bring in a total of somewhere between $2 to $4 billion in revenue to the state annually, rather than the $250 million the country has received each year since the system was privatized. "Bolivia needs the foreign companies to survive," Hydrocarbons Minister Carlos Villegas told TIME in an interview. "But we want business partners, not bosses...
...Correa, 43, is not a military firebrand like Chavez, an indigenous standard-bearer like Bolivia's Evo Morales or a former factory worker like Brazil's Luiz Inacio Lula da Silva. In fact, five years ago he received his Ph.D. in economics from the University of Illinois, and he was briefly Ecuador's finance minister until he was removed last year for publicly excoriating the World Bank. Soon after, Correa launched his leftist Alianza Pais (Country Alliance) Party and positioned himself as the political outsider for the 2006 presidential race. It was a smart move in an impoverished nation whose...
...curry favor for his Bolivarian revolution--including epic projects like a proposed $20 billion, 6,000-mile-long gas pipeline from Venezuela to Argentina to help integrate South America's economies. Chávez's anti-Yanqui message has changed the hemisphere's political equation, catapulting Latin leftists like Bolivia's Evo Morales into power and helping nonhemispheric powers like China gain a stronger economic foothold. "The U.S. fears Venezuela's presence on the Security Council," Chávez says, "because it knows we'll be a genuinely independent vote for the Third World...
...Paraguay blustered into the suicidal, six-year War of the Triple Alliance against Argentina, Brazil and Uruguay; out of a population of 525,000, only 220,000 survived, and only 28,000 of these were men. Again in the Chaco War of the 1930s, Paraguay took on Bolivia and won 20,000 sq. mi. of wilderness borderland?at a cost of one Paraguayan life for each square mile. Thus the prize won in 1954 by Stroessner, a veteran of the Chaco War, was a sleepy backwater, 600 miles by river from the sea, cobblestone-quaint but short on manpower...