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Luis Alberto Arce Catacora is the name of the person who was elected president of Bolivia for the period 2020-2025. His resounding electoral victory on October 18 confirms the Bolivian people’s support for the Democratic and Cultural Revolution, conquered since the time of the government of Evo Morales.
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With its victory in the last elections, the Movement Towards Socialism (MAS) returns to power almost a year after the de facto president, Jeanine Áñez, who took office after the coup against Morales in November 2019.
Luis Arce warned of the collapse of the Bolivian economy from first to last place in the region, as well as the urgency to attack hunger immediately with a bonus of 1,000 Bolivians (about $ 145).
The people won the joy of victory with their struggle. United, to the rhythm of moseñadas, bands and indigenous groups, we celebrate the recovery of hope for every Bolivian. With the strength of the people # We will move on. pic.twitter.com/sMnNlWbunC
– Luis Arce Catacora (Lucho Arce) (@LuchoXBolivia)
24 October 2020
He also announced, following his electoral victory, that he will restore diplomatic relations with Cuba, Venezuela and Iran, as a clear sign that Bolivia is returning to the independent and Latin American path.
Bolivia’s Supreme Electoral Tribunal (TSE) proclaimed Luis Arce with 55.1 percent of the vote, eliminating the need to contest a second round.
Luis Arce: architect of the Bolivian economic miracle
Arce has a degree in Economics, a title awarded to him by the Universidad Mayor de San Andrés (UMSA). In addition, he graduated as a general accountant from the Banking Training Institute.
Between 1996 and 1997 he earned a Masters in Economics from the University of Warwick, England. After years of study, Arce spent his professional career at the Central Bank of Bolivia (BCB) from 1987 to January 2006, when he joined the government of Evo Morales.
The 57-year-old economist has accompanied Morales since his arrival to the Presidency and held the position of Ministry of Finance in 2006. In 2009 he was appointed Minister of Economy and Public Finance until 2017, when he had to temporarily leave the country. post due to health problems, and then resumed his function in 2019.
As Minister of Economy, he distinguished himself for being one of the architects of the so-called “economic miracle” that placed Bolivians at the forefront of financial growth, even during the 2008 world crisis.
Arce himself explained in a publication by the Bolivian Ministry of Economy in 2011 that this model aimed to “lay the foundations for the transition to the new socialist mode of production”.
In this way, Arce sought to change the way in which the economic surpluses generated by Bolivian society were generated and distributed.
Bolivia’s newly elected president is also credited with consolidating a government with a greater presence in the economy, unlike the neoliberal model, not only with strong public investment but with operational weapons through public companies.
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