Bolivia have declared themselves as separate from the global economy.
President Evo Morales has delivered a message in which he highlighted Bolivia’s independence from the World’s Bank.
He said in a tweet:
“A day like today in 1944 ended Bretton Woods Economic Conference (USA), in which the IMF and WB were established,”
“These organizations dictated the economic fate of Bolivia and the world. Today we can say that we have total independence of them.”
Bolivia’s desire for independence is a breath of fresh air in a global economy which often sees the richest few countries scratching each other’s backs and where the poorest countries get ignored and are left to fall by the wayside.
In the past, Bolivia has been so dependent on the global economy that the International Monetary Fund had offices in the heart of the government and was heavily involved with the countries economy.
They are now in a process which will see them become part of the Southern Common Market after a summit in Argentina last week.
During the last century, Bolivia experienced several protests and uprisings in the interest of making the economy and the infrastructure safer for citizens. Importance was put on health, education and poverty.
Morales came to power in 2006 and since then has increased spending on such causes by 45%.
Some of the perks the Bolivian citizens have also enjoyed include the nationalization of hydrocarbons, poverty has been reduced from 60% to less than 40%, illiteracy is now at just 3% down from 13%, the tripling the GDP with an average growth of 5% annually and the minimum wage has increased four-fold.