ANNOUNCEMENT 03 Dec 2010In December 2010, the government of Bolivia announced altered domestic business conditions for foreign investors.
NUMBER OF INTERVENTIONS
Law 65 (Ley de Pensiones, Ley 065) published on December 10, 2010: http://www.ilo.org/dyn/natlex/docs/ELECTRONIC/85688/96074/F1336087836/BOL85688.pdf
The Wall Street Journal: http://online.wsj.com/article/SB10001424052748703350104575652852902005086.html#
The Economist, Intelligence Unit: http://www.eiu.com/index.asp?layout=ib3Article&pubtypeid=1132462498&article_id=1017782086
ISSA (International Social Security Association): http://www.issa.int/Observatory/Country-Profiles/Regions/Americas/Bolivia/Reforms/Individual-accounts-system-to-be-nationalized
Professional Pensions: http://www.professionalpensions.com/global-pensions/feature/2068954/bolivia-takes-pension-reforms
On December 3, 2010, the Bolivian Congress approved a bill to nationalise the country's pension system (Law 065, Ley de Pensiones). After its privatisation in 1997, the system was run by two foreign companies: AFP Futuro de Bolivia, which is part of the Zurich Financial group, and BBVA Previsión AFP, a unit of Spain's banking giant Banco Bilbao Vizcaya Argentaria. Assets of the pension system nationalised are estimated to amount USD 3 billion.
The law came into force on December 10, 2010.