Bolivia is a country is the south west of Brazil in the Central part of South America. The country has got its name from Simon Bolivar who was an Independence fighter.
The Spanish rule ended in the country in 1825 and after that there was a king series of countercoups and coups.In the year 1982, Democratic Civil Rule was established in the country. After the democratic rule was established the path ahead was not an easy way for the leaders as there were many economic problems like poverty, illegal drug production and social unrest.
The Population of the country in 2008 was 9,247,816 with the average age being 21.8 years. The country has its own natural resources like Natural Gas, tin, zinc, petroleum, antimony, iron, silver, gold, lead, hydropower and timber.
The country is one of the most underdeveloped and poor countries of Latin America. In the 1980s there was an economic crisis in the country. After this phase there were many economic reforms that were introduced which facilitated economic growth and increased private investment. The country faced political instability in 2003 to 2005. Around 64% of the population is below poverty line in the country which explains the economic conditions of the economy. In the 1990s there was some privatization that happened in the economy. The country’s government sees the economic growth to be around 4% this year. The country has South America’s second largest reserves of natural gas and is also the third largest producer of Cocaine. With natural reserves at its disposal also the country has a long way to go to be a developed and rich nation.
More Articles :