Bolivia nationalizes four power companies [View All]

Source: Reuters

LA PAZ, May 1 (Reuters) - Leftist Bolivian President Evo Morales said on Saturday he had nationalized four power companies, including a subsidiary of France's GDF Suez, in his drive to tighten state control over the impoverished economy.

Morales, a close ally of Venezuela's Hugo Chavez, nationalized Bolivia's key natural gas industry soon after taking office in 2006 and has since taken control of several utility companies as well as the Andean nation's biggest smelter and top telecommunications firm.

Read more: http://www.reuters.com/article/idUSN0118621820100501?type=marketsNews

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Oh what a shame, undoing all that good work by the IMF and WB to privatize Bolivia's resources and infrastructure and hand control of the country over to global corporations.