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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/11/bolivia-will-not-compensate-uk-firm.jpg"><img class="alignnone size-full" title="Bolivia's president Evo Morales announced he was nationalising four power companies (AP)" src="http://londonglossy.com/wp-content/uploads/2010/11/min-bolivia-will-not-compensate-uk-firm.jpg" alt="Bolivia's president Evo Morales announced he was nationalising four power companies (AP)" /></a></p>
<p>Bolivia has said it does not plan to compensate British power company Rurelec plc for a subsidiary the government nationalised earlier this year.</p>
<p>Legal Defence Minister Elizabeth Arismendi said a financial study revealed significant debt at Empresa Electrica Guaracachi SA, so Bolivia does not owe Rurelec &#8220;anything&#8221;.</p>
<p>Ms Arismendi said the government was prepared to prove its case in arbitration if necessary.</p>
<p>President Evo Morales announced on May 1 that he was nationalising four power companies including Guaracachi, the nation&#8217;s largest generator.</p>
<p>Last week Rurelec gave a deadline of this Saturday for Bolivia to respond to its demand for 79.3 million US dollars (£49.6 million) in compensation.</p>
<p>Ms Arismendi called that amount &#8220;unreal&#8221;.</p>
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