Why is Bolivia poor?

1825 Independence
1836 Peru-Bolivian Confederation (basically the bolivian president invaded Peru)
1836 War with Chile and Argentina
1879-1883 War with Chile
1903 War with Brazil
1932-1935 War with Paraguay (killed more than 20% of soldiers, compare that with the 5% of the union in the American civil war)
1952 Revolution
1953-1959 6 years (1953 to 1959) of economic contraction
1985 Hyperinflation 12000% price increase
and a lot of coups

Having similar start with other latin American nations, Bolivia suffered in the 1800's with wars with more populous countries. In the 1900's the Chaco war, the 1952 revolution, government instability and the hyperinflation are important factors that contributed with today's poverty.