Bolivia's Morales retains mining minister in reshuffle
Bolivia's President Evo Morales, whose 11 years in power make him Latin America's longest serving leader, retained the mining and hydrocarbons ministers in his annual cabinet reshuffle that saw 10 portfolios change hands.
Morales confirmed Luis Arce (economy), César Navarro (mining) and Luis Alberto Sánchez (hydrocarbons) in their posts, while replacing the foreign, environment, labor, justice, communications and planning ministers, among others, and creating an energy ministry.
Energy minister Rafael Alarcón, former CEO of state electricity company ENDE, will be in charge of an ambitious plan to turn Bolivia into an electricity exporter, Morales said. Arce has been in the cabinet since 2006, while Navarro and Sánchez were appointed in 2014 and 2015, respectively.
The government has seen exports and international reserves plummet due to slumping commodities prices, Morales said later in a four-hour state of the nation speech in congress.
Bolivia's exports fell 19.5% to US$6.65bn through the first 11 months of 2016 as oil and gas revenue dropped by nearly half.
"In hydrocarbons income, there I have a lot of problems," he said.
But the country has managed to reduce extreme poverty to 16.8% from 38.2% over the past decade, while ensuring 5% annual economic growth and 6% inflation, he said.
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