Bolivia to Hold Constituent Assembly

April 2, 2006

On August 6, the people of Bolivia will hold a Constituent Assembly to carry out profound changes in the structures of the state and recover Bolivia's natural resources from the multinational corporations. Elections for the Constituent Assembly will be held on July 2.

Already, the new Bolivian government, headed by President Evo Morales, is taking steps to recover control of large companies that were privatized between 1995 and 1996 as part of the imposition of "neoliberal" policies on the country.

The nationalization will include 10 companies -- three in the oil sector, three in the electric sector, two railroads, one telecommunications company and one airline.

To take control of these companies, the state will buy enough shares to own 51% of the stock, leaving private companies as minority shareholders.