MercoPress. South Atlantic News Agency

Bolivia is “a creditor not a debtor of G 8”

Bolivia's main opposition leader Evo Morales described the G 8 rich countries decision to condone the entire debts of 18 poor countries, including Bolivia, as a “small step forward”, although he argued that his country is not a debtor but rather a creditor of the rich world.

"This condonation is a small step forward", said Mr. Morales during a radio interview stressing that 30% of Bolivia's budget is earmarked to service foreign debt.

But Mr. Morales who has been the master mind behind the unrest in Bolivia added that several of the G-8 members have a historic debt with his country because of the looting and exploitation of natural resources that took place during colony time. .

"Bolivia is no debtor, rather a creditor of nations such as Spain and Britain that have historically looted our resources. If a technical, financial and economic auditing were to be done I'm sure they owe us", he underlined. .

Mr. Morales further on argued that the country's foreign debt is responsible for the current political and social crisis in Bolivia, which forced the resignation of president Mesa and the taking office of caretaker president Eduardo Rodriguez following massive protests from peasants and indigenous population. .

"If Bolivia faces a cultural, ideological, programmatic, financial and social confrontation unfortunately it's because the policies implemented both by the World Bank and the IMF have led us to this disaster". .

Mr. Morales suggested that because of this situation "the struggle of the Bolivian people will continue to achieve the necessary changes needed, in peace and by democratic means, which means the nationalization of our natural resources".

"Globalization is an imperial re-colonization instrument which ensures the permanent looting of our natural resources, and this must end", warned Mr. Morales. G 8 includes US, UK, France, Germany, Japan, Canada, Italy and Russia. Two other Latinamerican countries benefited from the decision to condone 100% of the foreign debt, Nicaragua and Honduras.