The Bolivian military attempted a coup against the government, which was thwarted by President Luis Arce. The President has accused the military of attempting a coup and has called for international assistance.
What Happened: The Bolivian armed forces, led by General Juan Jose Zuniga, who had recently been relieved of his command, gathered at the central Plaza Murillo square in La Paz, which houses the presidential palace and Congress. A Reuters witness reported seeing an armored vehicle ram a door of the presidential palace and soldiers storming in.
President Arce, in a statement from the palace, denounced the incident as an attempted coup and called on the Bolivian people to mobilize in defense of democracy. “Today the country is facing an attempted coup d’état. Today the country faces once again interests so that democracy in Bolivia is cut short,” Arce said.
Following the President’s statement, the military withdrew from the square, and Zuniga, the leader of the military operation, was arrested. President Arce then appointed José Wilson Sanchez as the new military commander, urging a return to calm and order.
The United States has expressed its concern over the situation and has called for restraint.
Why It Matters: The attempted coup comes amid escalating tensions in Bolivia, with the upcoming 2025 general elections pitting former allies Arce and leftist ex-President Evo Morales against each other. Morales, who was ousted in 2019, plans to run for president again, causing a rift in the ruling socialist party and increasing political uncertainty.
The attempted coup in Bolivia has raised concerns about the stability of the country’s democracy and the potential for further political unrest. The situation is further complicated by the upcoming general elections, which are expected to be highly contentious.
Arce’s government has been grappling with economic challenges, including a significant drop in gas exports, which has put pressure on the country’s currency and reserves.
Image Via Shutterstock
This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
