In brief
In a historic run-off election, Bolivia has elected centrist Rodrigo Paz as president, ending nearly 20 years of rule by the Movement for Socialism party. With a promise of 'capitalism for all', Paz aims to tackle the nation’s economic challenges, including serious fuel shortages and inflation. His victory is seen as a response to widespread desire for change amid political divisions and economic struggles. Celebrations erupted in La Paz as supporters celebrated the hopeful turn for the country, while the implications of this election may shift Bolivia's international relations, especially with the US and China.
Bolivia has elected a centrist senator, Rodrigo Paz, as its next president, marking the end of nearly 20 years of continuous rule by the Movement for Socialism (Mas). With almost all votes counted, Paz of the Christian Democratic Party triumphed over right-wing candidate Jorge Tuto Quiroga, securing 54.6% of the votes in Sunday’s run-off election.
The election comes amidst a severe economic crisis in Bolivia, characterized by fuel shortages and high inflation, prompting many voters to seek change. In his victory speech, Paz declared that he would end fuel shortages and invite international investments to stimulate private-sector growth.
Paz, 58, was a surprise frontrunner in the first round of elections in August, and his moderate stance attracted undecided left-leaning voters longing for a change without fully shifting to the right-wing candidate Quiroga.
The celebration in La Paz reflected the hope among his supporters for a new direction in the country. One supporter stated, we came to celebrate the victory with great hope of a new direction for Bolivia.
In his ambitious campaign, Paz promoted capitalism for all, pledging to implement free-market reforms while supporting the poorest through social programs. He has promised to tackle corruption, decentralize government, and support small businesses with easier access to credit.
However, Bolivia faces significant challenges ahead as Paz will inherit a country struggling with economic crises and a deeply divided political landscape. He will take office on November 8, 2025, and efforts to restore economic credibility and unite the nation will be crucial.
Paz’s election could also indicate a potential thawing of Bolivia’s international relations, particularly with the US, which had been strained after the expulsion of the US ambassador in 2008. Observers anticipate that Paz may recalibrate Bolivia’s international partnerships, especially with the pressing need for foreign investments.
