After a two year stalemate following the 1979 and 1980 elections, the Bolivian parliament elected the winner of the 1980 popular vote, Hernán Siles Zuazo, president on 10 October, 1982.
In December 2010, Bolivian president Evo Morales announced that the government would be unable to continue subsidizing fuel prices. In addition to changes in the cost of fuel, which increased by more than 80% without subsidies, the price of food and other commodities also skyrocketed in the same period. Morales reinstated the fuel subsidies after a week of widespread protest, but the price of food remained high.
Throughout the 90s, Bolivia came under increasing pressure from the World Bank to privatize public goods in order to fulfill loan conditionality. In September 1999, in response to this pressure, the Bolivian government auctioned off the municipal water system ‘SEMAPA’ of Cochabamba, a city of 800,000 residents. When the auction drew only one bidder, the government signed water resources over in a 40-year concession to Aguas del Tunari, a foreign-led consortium of private investors dominated by the Bechtel Corporation.
