Bolivia’s President Eva Morales declared on twitter that his nation has achieved “total independence” from the IMF and the World Bank
The socialist leader published his comments after meeting with his peers Friday at a gathering in Argentina of the Mercosur, a sub-regional economic bloc.
Bolivia begins its process of becoming a full member of the Mercosur, also called the Southern Common Market, which includes Argentina, Brazil, Paraguay, Uruguay, and Venezuela.
Until now Bolivia has served as an associate member along with Chile, Columbia, Ecuador, Guyana, Peru, Suriname.
President Morales accused world powers of intervening in oil rich nations such as Libya, Iraq, and Venezuela to “appropriate resources”.
Historically, Bolivia has relied heavily on the IMF for loans to fund their socialist government expenditures.
President Morales has even previously quipped that his nations past dependence on the agencies was so great that the IMF had an office in government headquarters and even participated in their meetings.
President Morales become Bolivia’s first indigenous leader in 2006, and gained popularity after the nations popular uprising known as “The Cochabamba Water War”, which occurred in 2000, and was waged against the U.S.-based Bechtel Corporation over water privatization.
The World Bank at the time, which was closely associated with the Bechtel Corporation, shed light on the growing debt issues facing the country through policy publications.
According to a report from teleSUR, some of Bolivia’s largest resistance struggles in the last 60 years have targeted the economic policies carried out by the IMF and the World Bank.