Bolivian President Evo Morales is to formally resign, after the military called on him to step down and allies deserted him following weeks of protests over a disputed election that has roiled the Sou
th American nation.
Some of Morales' leftist allies in Latin America decried the turn of events as a"coup", including Venezuelan President Nicolas Maduro and Argentine President-elect Alberto Fernandez.Bolivia under Morales had one of the region's strongest economic growth rates and its poverty rate was cut in half, though his determination to cling to power and seek a fourth term alienated many allies, even among indigenous communities.
According to Bolivian law, in the absence of the president and vice-president, the head of the Senate would normally take over provisionally. However, Senate President Adriana Salvatierra also stepped down last night. His"legacy will be compromised and the region will suffer another impact with consequences well beyond Bolivia," said Juan Cruz Diaz, managing director of risk advisory Cefeidas Group, referring to Argentina, Chile, Peru, Paraguay and Brazil.
Several of his allies resigned, including Mining Minister Cesar Navarro and Chamber of Deputies President Victor Borda, who belongs to Morales' party. They both cited fear for the safety of their families as the reason for stepping down.
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