Pour the water to the pressure cooker. Add carabeef and cook for 30 to 45 minutes. Set aside.
HOW TO COOK CARABEEF CALDERETA:
Heat oil in a large pan and fry the carrots and potatoes until color turns light brown.
Remove and set aside for a while. Fry bell peppers just for a few seconds.
In the same pan, sauté the garlic and onions until become translucent. Add beef to the pan and stir-fry for a few minutes. You just want to incorporate all the flavors of the garlic and onion to the meat.
Add stock, tomato sauce, liver spread and bay leaf; stir a little to combine all the ingredients. Cover and simmer for 10 minutes on a medium heat.
Add green olives, chili, grated cheese, tomato paste, fried potatoes, carrots and bell peppers. Simmer for another 5 minutes over low heat or until sauce thickens.