Word: estenssoro
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Bolivia's professorial President Victor Paz Estenssoro, struggling to rid his poverty-stricken nation of its longtime dependence on tin exports, signed a decree last week opening the way for foreign capital to come in and drill for oil. As the government's cut, the new Bolivian law demands 11% of the crude oil produced, plus 30% of net profits, plus a yearly concession tax of a few cents an acre...
...another spin to the gay whirl, Bolivia's President Victor Paz Estenssoro flew 665 miles northwest to Lima one day last week. It was a historic occasion. Ever since Chile defeated them in the War of the Pacific (1879-83), Peru and Bolivia have sullenly blamed each other for their joint misfortune. But from the moment that Peruvian President Manuel Odría gave him a big abrazo at the airport, Paz Estenssoro was treated like a long-lost brother. Bands played, a Cadillac convertible drove the Presidents through cheering throngs. Paz responded: "Peru and Bolivia have an ancestral...
...than landlocked, mineral-rich, dollar-starved Bolivia. Last spring, Peru and Bolivia started planning a new railroad to bypass Lake Titicaca, where everything traveling between Peru's Pacific ports and La Paz must now be transshipped to and from a lake steamer. When the ceremonies were over, Paz Estenssoro and Odria signed a formal agreement to go ahead with the 115-mile Puno-Guaqui railroad. Said a Peruvian diplomat: "Peru and Bolivia look to me like Siamese brothers, joined by the Titicaca lake...
There was much to be grateful for. When Paz Estenssoro took power 2½ years ago, he was less than an even bet to last six months. Bolivia faced starvation, counterrevolution, a serious Communist threat, an empty treasury and a world glut of tin, its only valuable export. The U.S. helped save the situation by sending free wheat and buying tin for the strategic stockpile. Cost of grant-aid to the U.S.: $17 million-10? for each U.S. citizen. Two and a half years later, Bolivia still needs more loans and grants. But it has a better chance than ever...
...rail-and-highway route from Rio de Janeiro to the Pacific Coast. Construction of the road, hampered by red tape and revolutions, took ten years, cost $45 million ($34 million of it in U.S. loans). One of Holland's pleasant duties last week was to watch while Paz Estenssoro cut two ribbons-one in Bolivian colors, one in U.S.-and opened the highway...