National Dignity Day in Peru (09/10)

National Dignity Day (Día de la Dignidad Nacional) is celebrated in Peru in honor of the nationalization of the property of the American oil company International Petroleum Company (IPC, International Petroleum Company) on October 9, 1968.

On October 3, 1968, the «-revolutionary government of the armed forces, led by General Juan Velasco Alvarado (1910»1977), came to power in Peru as a result of a coup d'etat. Deep socio-economic transformations have begun in the country.

The first step of the new authorities, which received enormous resonance not only in Latin America, but also far beyond its borders, was the nationalization of the property of the American oil company International Petroleum Company, which had been predatorily exploiting the national wealth of Peru for 40 years.

The International Oil Company was, in a way, a state within a state, representing one of the worst examples of the implementation in practice of the policy of unbridled robbery of the natural resources of developing countries by concerns of developed countries. The territory that belonged to this American monopoly had its own laws.

At the same time, the Company did not even bother to pay the taxes due to the Peruvian state, as a result of which the amount of its debt reached a truly astronomical amount, certified by independent experts from France.

Today, National Dignity Day is not a public holiday in the country. However, the media pays great attention to this event. This day remains significant for people involved in the historical events of the nationalization period.

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