VII. The Contemporary Period, 1945–2000 > D. Latin America, 1945–2000 > 2. South America, 1945–2000 > e. Bolivia > 1981, Aug. 4
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  The Encyclopedia of World History.  2001.
 
 
1981, Aug. 4
 
Under pressure from all sectors, Gen. García Meza passed power to another junta, which convened Congress to certify the election of Siles Suazo.  1
 
1982, Oct. 2
 
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
 
1984, Nov
 
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
 
1985, Aug. 5
 
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
 
Sept
 
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
 
 
 
The Encyclopedia of World History, Sixth edition. Peter N. Stearns, general editor. Copyright © 2001 by Houghton Mifflin Company. Maps by Mary Reilly, copyright © 2001 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved.

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