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1981, Aug. 4 |
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Under pressure from all sectors, Gen. García Meza passed power to another junta, which convened Congress to certify the election of Siles Suazo. | 1 |
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1982, Oct. 2 |
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Siles Suazo was sworn into office. He faced disastrous economic conditions: 75 percent underemployment and unemployment, extremely low tin prices, and a spiraling foreign debt of nearly $4 billion. The military command was dismissed, measures were taken to control galloping inflation, and Siles Suazo announced plans to increase worker participation. | 2 |
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1984, Nov |
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With the economy racked by 1,000 percent inflation and facing drug scandals, Siles Suazo acceded to pressures to call an election one year ahead of schedule. | 3 |
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1985, Aug. 5 |
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After presidential elections produced no clear victor between right-wing Gen. Hugo Banzer Suárez and MNR candidate Victor Paz Estenssoro, Congress elected Paz Estenssoro (who polled fewer votes). Banzer threatened a coup, and the International Monetary Fund demanded a severe austerity program, pushing the new regime to the Right. | 4 |
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Sept |
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Workers launched a general strike. The army crushed the protesters and arrested over 1,000 of them. Paz Estenssoro, working with Banzer, declared a state of siege and continued a neoliberal plan for economic stabilization. | 5 |
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