March 16, 2005

Bolivian Congress Finally Decides for 18/32 Formula

MABB is a registered TM.

Late las night the Bolivian Chamber of Deputies voted to pass the controversial article 53 of the new energy law, which sets the 18/32 formula fiercely backed by the government.

The measure passed by a difference of 11 votes, 58 in favor to 47 against. The deciding factor was the change of mind of several deputies in the New Republican Force (NFR) party faction. According to news reports, this faction was supporting Evo's 50% formula, but now they had a change of heart.

Evo Morales' reaction was to leave the decision of keeping the pressure to the "basis" as he calls his supporters. Evo is going through a period of low support, which might have played a role in the decision of the NFR faction to turn on him.