Morales Tells Sputnik Latin America's External Debt Should Be Written Off Amid Pandemic

BUENOS AIRES (Pakistan Point News / Sputnik - 27th October, 2020) Former Bolivian President Evo Morales is calling for writing off the regional countries' debt amid the coronavirus pandemic and the ensuing economic damage, he told Sputnik.

"I think that because of the pandemic, Latin America's external debt should be written off," Morales said in an interview with Sputnik, adding that he could become useful in talks with international organizations that usually take a hard stance on issues related to debt.

According to Morales, governments across the world should strive to build up the economy, particularly in what concerns Latin American countries, amid the pandemic.

Bolivia's economy grew at an average of 4.9 per cent a year between 2006 and 2018. Morales served as the country's president between 2006 to 2019.

"When I became president, the external debt was 56% of the GDP and we lowered it to 11%," Bolivia's former leader told Sputnik, adding that after he left the post of president the transitional government accumulated internal and external debt that is currently approaching 40% of the GDP.

Last week, Luis Arce from the Movement for Socialism party (MAS) was elected president of Bolivia for the period of 2020-2025.

Morales, also representing the MAS party, resigned as president and left the country in November of last year, under pressure from the military, after the Bolivian opposition, led by Carlos Mesa, claimed that there were mass violations during the October 2019 vote.