But central and private bankers, businessmen, academics and (some) foreign investors are also confident about the future of South America’s poorest country and its possible industrial take-off.
There are two reasons behind this optimism. One is that, after years of disturbances, and weak and often corrupt governments, the country is stable politically and socially. This stems principally from Mr Morales winning an outstanding 54% of the vote in general elections last December. But it is also, apparently paradoxically, due to his government’s decision to nationalise Bolivia’s lucrative oil and natural gas industry on May 1, in accordance with Mr Morales’ electoral pledges and the results of a 2004 referendum, to increase the state’s share of revenues, to reduce poverty and inequality and improve governance.
