Bolivia re-nationalizes water

The French company that ran the water company after it was privatized in 1997 came under criticism because of high rates and a refusal to provide service for all, a familiar complaint about privatized water companies. Bolivia just completed their take-over of the company (the company received a severance payment.)

“Water cannot be turned over to private business,” [Bolivian President] Morales said. “It must remain a basic service, with participation of the state so that water service can be provided almost for free.”

He now plans to move against privatized companies in the power and telecom sectors.

Water is too basic and too important to be managed by distant transnational companies whose sole goal is maximizing profit.