Bolivian legislator proposes constitutional reform to boost investment

Bolivian legislator Carlos Alarcón has introduced a bill to partially reform the State Political Constitution, aiming to streamline investment attraction and alter the judicial selection process. Presented on August 13 to Vice President Edmand Lara, the proposal seeks to remove what Alarcón describes as "locks" imposed by the "hyper-statist and ideologized economic model" of the Movement Towards Socialism (MAS).

The core of Alarcón's initiative involves "de-constitutionalizing" 30 articles of the current constitution. This would downgrade them from constitutional rank to ordinary law status, meaning they could be modified or repealed with a two-thirds vote in the Plurinational Legislative Assembly. Alarcón specifically mentioned removing constitutional barriers that hinder large-scale investments, such as the prohibition of international arbitration.

Alarcón, representing the Unidad party, believes these reforms are crucial for Bolivia's economic development. He argues that by making these articles subject to legislative majority rather than constitutional amendment, the country can more readily adapt its investment framework. He also suggested that the constitutional reform process could proceed in parallel with the development of structural economic laws.

The proposal to eliminate the popular election of judicial officials is a significant aspect of the reform. Alarcón's plan suggests that these articles, once "de-constitutionalized," would be regulated by special laws, potentially altering the current system of judicial appointments and elections. The legislator expressed optimism that such changes would unlock the country's investment potential.