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Luis Arce, the architect of the economic miracle

Now our great challenge is to rebuild the country, regain stability and hope for all Bolivians. ” Luis Arce President-elect of Bolivia


#BoliviaMereceMAS, the new president of the Andean nation, Luis Arce, who with 55% of the votes won the election last Sunday, considers and thus highlights it on his official Twitter profile.

“Thank you my dear #Bolivia! We receive this democratic mandate with great humility. Now our great challenge is to rebuild the homeland, regain stability and hope for all Bolivians. We will not disappoint the trust of the people, “he said on Friday, after being ratified by the Supreme Electoral Tribunal.

The victory of the 57-year-old economist marks the end of a political crisis that erupted in 2019 after the resignation of President Evo Morales, forced by violent protests that ignored his re-election.

“This victory is not surprising if we review the high levels of economic growth in Bolivia during Evo’s government, since between 2005 and 2018, that country’s GDP grew 85% measured at constant prices, a proportion only surpassed by Panama (138 %), The Dominican Republic (105%) and Peru (95%), according to ECLAC data, “he told Excelsior the internationalist César Soto.

Arce arrived as a standard bearer for the economic boom of the Morales government (2006-2019). He studied at the state Universidad Mayor de San Andrés in La Paz and did a master’s degree at the British University of Warwick. In addition, he worked 18 years at the Central Bank and was Minister of Economy and Finance.

They consider him the author of economic miracle, because in that position the economic support grew, mainly focused on thousands of pregnant women, students and the elderly, and there were million-dollar investments to try to industrialize lithium and natural gas, highlighted the France-Presse news agency.

“The actions that the new government will take towards the defeated coup plotters who violated human rights during the coup (against Evo Morales) are pending,” said Soto, professor of International Relations at UNAM FES Aragón.

“Without a doubt, Bolivia, with its government emanating from the indigenous movement, reactivates the counterweight in Latin America of leftist governments such as Argentina, Venezuela and Mexico represent. We must be attentive to the evolution of the economic-political processes of regional integration in South America, such as Unasur and ALBA ”, added the professor.

The father of three children, Arce was born on September 28, 1963 in La Paz into a middle-class family. His parents were teachers.

His origin and training are different from those of Evo Morales, who was born into a family of modest peasants and llama herders, worked throughout his childhood, for which he went to school for a short time, and his mother tongue is Aymara.

Arce grew up as a prominent basketball fan.

Former presidential candidate Luis Fernando Camacho describes Arce as a “puppet of the dictator Evo Morales.”

Former president Jorge Quiroga, who was a candidate, but withdrew from the race, described him as the “cashier of waste”, for the millionaire spending on public works for 14 years.

And his closest rival, former President Carlos Mesa, assured that “the result (of Arce as minister) was: palaces, airplanes, luxuries, waste and corruption.”

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