President Luis Arce's career has mirrored Bolivia's economic trajectory from boom to bust

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President Luis Arce's career has mirrored Bolivia's economic trajectory from boom to bust

2024-06-27 13:49 Last Updated At：13:50

LA PAZ, Bolivia (AP) — The president of Bolivia, who was the target of a failed coup Wednesday, is a 60-year-old leftist whom many see as an opponent of Washington-backed free-market and neoliberal policies.

Luis Arce, who studied economics in London, was economy minister under President Evo Morales, whose time in office from 2006 to 2019 made him an icon of the Latin American left.

After Morales left office, Arce became president in November 2020, following Jeanine Añez's short time in office.

Bolivian television showed Arce confronting the apparent leader of the rebellion — the general commander of the army — in the hallway of the government palace Wednesday night.

“I am your captain, and I order you to withdraw your soldiers, and I will not allow this insubordination,” Arce said.

Arce named a new army commander, who immediately ordered the troops to stand down. Their retreat ended the rebellion after just three hours.

Arce's career has mirrored Bolivia's economic trajectory from boom to bust. He worked in the Central Bank from 1987 to 2006 and worked for Morales administering a bonanza in metals and hydrocarbons prices that came to be known as the “Bolivian Miracle.”

But by the time Arce took office, Bolivia was hard-hit by the COVID-19 pandemic and social tensions set off by Morales' 2019 departure after street protests and extreme pressure from the military.

Neoliberal reforms in the 1990s helped Bolivia become a significant energy producer, and it moved from a low-income to a middle-income nation, according to the World Bank. The percentage of people in extreme poverty fell to 15%, the state built highways and cable cars, and cities grew.

But incomes began to fall in 2014.

Assuming the presidency, Arce described his country’s recession as the worst in 40 years.

He recently said gasoline and diesel production no longer covered national consumption, and that the country had to import 86% of its diesel and 56% of its gasoline because of a lack of exploration and production.

Households also have been forced to grapple with high food prices.

Meanwhile, tensions between Morales and his party continued to rise.

In November, Arce criticized his opponents and said they “dreamed of new coups d’état.”

Kohli half-century anchors India to 176-7 against South Africa in T20 World Cup final

2024-06-30 00:24 Last Updated At：00:30

BRIDGETOWN, Barbados (AP) — Virat Kohli's first half-century at this Twenty20 World Cup anchored India to 176-7 against South Africa in the final on Saturday.

Kohli, who tallied only 75 runs in seven games, made 76 off 59 balls with six fours and two sixes after India was in early trouble at 34-3 inside the first five overs.

Axar Patel absorbed the pressure well after getting promoted at No. 5, hitting four sixes in his brisk 47 off 31 balls, and put India back on track by sharing a 72-run stand with Kohli.

Kohli completed his half-century off 48 balls in the 17th over, but pushed the acceleration by smashing big sixes against Kagiso Rabada (1-36) and Marco Jansen (1-49). Kohli holed out in the deep in the penultimate over.

Shivam Dube made 27 off 16 balls and fell in Anrich Nortje's (2-26) last over as India scored 58 runs in the last five overs.

Kohli got India off to a flier when he hit left-arm fast bowler Jansen for three boundaries in the first over, and captain Rohit Sharma struck left-arm spinner Keshav Maharaj (2-23) for two fours off his first two balls.

But Maharaj struck twice in his first over when Sharma was brilliantly snapped up by Heinrich Klaasen low at square leg, and Rishabh Pant hit off the toe-end of the bat while attempting a reverse sweep and ballooned a simple catch behind the wickets.

Klaasen shone again in the outfield when he caught Suryakumar Yadav at deep fine leg off Rabada’s short-pitched ball before Patel and Kohli rebuilt the innings.

Patel was run out off a brilliant direct throw from wicketkeeper Quinton de Kock as he smartly intercepted Kohli’s flick and then hit the stumps at the non-striker’s end.

Both teams were unchanged from the semifinals.

South Africa is eyeing its maiden ICC title in its first final, while India, the inaugural T20 World Cup champion in 2007, hasn’t won a major trophy in 13 years.

AP cricket: https://apnews.com/hub/cricket

President Luis Arce's career has mirrored Bolivia's economic trajectory from boom to bust

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President Luis Arce's career has mirrored Bolivia's economic trajectory from boom to bust

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