This paper deals with economic changes in the last 12 years in Bolivia under the presidency of Evo Morales. After a short introduction about the political landscape of the country, I will explain how Morales’ party, Movimiento al Socialismo, planned to change Bolivia’s economic model. Here I will rely on the works by former Bolivian Ministry of Economics and Public Finances, Luis Arce Catacora. Then I will show the improvements in social conditions of the Bolivian population during the Morales’ presidency, and I will relate them to the Cash Conditional Transfers adopted by the government, otherwise known as bonos. Finally, I will assess the intricate issue of economic and environmental sustainability of this model. My point of view is that since Bolivia will soon face less revenue from its gas exports, efforts in diversifying its economy will have to improve. At the same time, no major crisis should happen.