Kenya protests, Bolivia failed coup show perils of economic hardship

People react at a demonstration over police killings of people protesting against Kenya's proposed finance bill 2024/2025 in Nairobi, Kenya on June 27, 2024. PHOTO | REUTERS

 Deadly Kenyan protests that scuppered tax hikes and a failed coup amid fading economic prospects in Bolivia this week are violent reminders of the dangers posed by faltering economies and punishing austerity measures.

Bolivia's President and former economy minister Luis Arce fended off the putsch on Wednesday but faces ongoing US dollar shortages and soaring borrowing costs that pushed the country's credit rating to "junk".