Step 1

In a wide pan over medium heat, heat oil. Add potatoes and carrots and cook until lightly browned. Remove from pot and drain on paper towels.

Step 2

Remove oil from the pan except for about 2 tablespoons. Add onions and garlic and cook until softened.

Step 3

Add beef and cook, stirring occasionally, until lightly browned.

Step 4

Add tomato sauce, tomato paste, water, and chili peppers. Bring to a boil, skimming scum that may float on top.

Step 5

Season with salt and pepper to taste.

Step 6

Lower heat, cover, and cook for about 1 to 1 1/2 hours or until beef is tender.

Step 7

Add potatoes, carrots, and continue to cook until tender.

Step 8

Add liver spread and cheese, stirring to combine until well-distributed. Continue to cook until cheese is melted and sauce is thickened.

Step 9

Add bell peppers and olives cook for another 1 to 2 minutes until tender yet crisp. Serve hot.