Bolivia has a long history of political turmoil, with nearly 200 coups and revolutions since gaining independence from Spain. The recent coup attempt, led by former General Juan Jose Zuniga, was unsuccessful due to lack of support from the population.
President Arce, who named a new army chief following the incident, is facing economic challenges with a shortage of dollars. Despite accusations from Zuniga that Arce staged the events for his own benefit, evidence is lacking.
Rivalry and Financial Crisis
The country narrowly avoided a financial crisis in 2023 by depleting half of its gold reserves. Arce is in a power struggle with former President Evo Morales, leading to further instability and economic strain.
As Arce and Morales compete for the presidency in the upcoming elections, the future of Bolivia remains uncertain. The coup attempt has weakened the already fragile democracy, prompting calls for legal consequences and military restructuring.
Ultimately, Bolivia faces a long road ahead in rebuilding its democratic institutions and ensuring stability in the face of ongoing political challenges.