Day of Dignity (Bolivia) 2023: Date, Background, Facts about Bolivia’s Natural Resources

On October 17 of each year, Bolivians observe the Day of Dignity, a commemoration of the casualties of the oil revolt of 2003. Indigenous Bolivians protested the export of their nation’s energy to the United States in a march that resulted in the deaths of a number of participants. Former Bolivian president Evo Morales issued a proclamation proclaiming a national day of remembrance and honour for the deceased.

The Background of Day of Dignity (Bolivia)

Bolivia’s oil reserves were discovered when it was a Spanish colony, but exploration was lacking at the time. The country’s oil production reached its zenith during the 20th century, when the activity became more solemn. Oil became the most important export, and the government pinned its expectations for economic growth on petrol profits.

Under the current regulations, which include a trade agreement with the United States, Bolivia would only receive 18% of the profits, according to critics. In addition, exportation rates were significantly lower than usual, causing concern over the external exploitation of Bolivia’s natural resources.

Then, in 2002, Bolivia proposed constructing a pipeline through Chile in order to convey oil via the Pacific Ocean. This decision was met with strong opposition from Bolivians, whose antagonistic history with Chile influenced many to oppose it.

By September of the next year, this conflict had escalated into increasingly disruptive confrontations between the Bolivian military and the local population. A violent confrontation a month later, in which 67 demonstrators were killed, was the turning point of this oil protest. President resigned and escaped to the United States. There was a declaration of martial law, and an interim vice president was elected. Disputes and conflicts escalated over the next two years, until the presidential election brought activist and trade union organiser Morales into the political arena. After gaining the presidency in 2006, the new leader issued a decree nationalising all natural gas reserves. Additionally, he proposed a memorial day for the victims of the 2003 unrest, which has since been observed.

Five Interesting Facts About Bolivia’s Natural Resources

With 211,450,000 barrels of oil in known reserves as of 2016, Bolivia had approximately 6,400 percent more than it required for consumption.

In addition to oil, Bolivia’s land contains gold, silver, tin, zinc, and gas.

In the past decade, Bolivia has shifted its focus to natural gas, which has accounted for 43 percent of its exports over the past two decades.

Bolivia has approximately 108 million hectares of land, making it the fifth largest country in South America, with a total land area per individual of approximately 12 hectares.

In contrast to land-rich regions covered in glaciers or sand, nearly all of Bolivia’s land is cultivable.

DAY OF DIGNITY (BOLIVIA) DATES