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Agence France-Presse

Bolivians on Sunday elected a pro-business centre-right senator as their new president, ending two decades of socialist rule that left the South American nation deep in economic crisis.
With 97.8 per cent of ballots counted, Rodrigo Paz had 54.6 per cent of the vote to 45.4 per cent for his rival, right-wing former interim president Jorge “Tuto” Quiroga, the Supreme Electoral Tribunal (TSE) said.
The news was greeted with joy, music and fireworks on the streets of La Paz.
“We came to celebrate the victory with great hope of a new direction for Bolivia,” reveler Julio Andrey, a 40-year-old lawyer, said.

Paz, the 58-year-old son of a former president, has vowed a “capitalism for all” approach to economic reform, with decentralisation, lower taxes and fiscal discipline mixed with continued social spending.
In his victory address, Paz said Bolivia was “reclaiming its place on the international stage”.
Washington congratulated Paz on his election win, with Secretary of State Marco Rubio saying the United States “stands ready to partner with Bolivia on shared priorities”.
He added in a statement that “after two decades of mismanagement, president-elect Paz’s election marks a transformative opportunity for both nations”.
Paz takes over a country that under ex-president Evo Morales took a sharp turn to the left: nationalising energy resources, breaking ties with Washington and making alliances with China, Russia and fellow leftists in Cuba, Venezuela and elsewhere in Latin America.
After the results were announced, Paz’s vice-presidential running mate, Edmand Lara, made a call for “unity and reconciliation” after a bitter campaign.

While Bolivia endured its worst economic crisis in decades, he promised improvements were on the horizon.
“We must ensure the supply of diesel and gasoline. People are suffering. We need to stabilise the prices of the basic food basket, and we must put an end to corruption,” he said.
Long queues for fuel have become a way of life in Bolivia, with dollars in short supply and annual inflation over 20 per cent.
In a first electoral round in August, crisis-weary voters snubbed the Movement Toward Socialism (MAS) party founded by Morales.
Sunday’s election closes out an economic experiment marked by initial prosperity funded by Morales’ nationalisation of natural gas reserves.
The boom was followed by bust, notably critical shortages of fuel and foreign currency under outgoing leader Luis Arce.

“We hope the country improves,” homemaker Maria Eugenia Penaranda, 56, said on Sunday, bundled up against the cold as she cast her vote in La Paz, about 3,600 metres (11,800 feet) above sea level.
“We cannot make ends meet. There is a lot of suffering. Too much,” she said.
Successive governments underinvested in the country’s hydrocarbons sector, once the backbone of the economy.
Production plummeted and Bolivia almost depleted its dollar reserves to sustain a universal subsidy for fuel that it can also no longer afford to import.
Analyst Daniela Osorio of the German Institute for Global and Area Studies said that Bolivians’ patience was running out.
Once the election is over, she warned, “if the winner does not take measures to help the most vulnerable, this could lead to a social uprising”.
Paz faces an uphill task, inheriting an economy in recession, according to the World Bank.
He had promised to maintain social programmes while stabilising the economy, but economists have said the two things were not possible at the same time.
“He has maintained a very calm, centrist tone … he has connected with people who want change, but not radical change,” political scientist Gabriela Keseberg said of Paz’s victory.
Paz said on Sunday that his governance style would be one of “consensus”.
He will not have a party majority in Congress, meaning he would need to make concessions to get laws passed.
Outside of Congress, the new president would also face stiff opposition from Morales, who remains popular - especially among Indigenous Bolivians - but was constitutionally barred from seeking another term.
Quiroga on Sunday said his team would review the official results but congratulated Paz on his victory nevertheless.


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Americas and the Caribbean

Bolivia elects centrist Rodrigo Paz as president, ending 2 decades of socialism

Bolivia’s President-elect Rodrigo Paz on Sunday. Photo: Reuters

Supporters of Rodrigo Paz celebrate in La Paz. Photo: Reuters

Voters line up at a polling station on Sunday. Photo: AP

Presidential candidate Jorge ‘Tuto’ Quiroga embraces running mate Juan Pablo Velasco. Photo: AP

Bolivian centrist candidate Paz leads as presidential election heads to runoff

Bolivian presidential candidate Rodrigo Paz of the Christian Democratic Party, accompanied by wife Maria Elena Urquidi, reacts as early official results show that he is leading Sunday’s presidential race. Photo: Reuters

Supporters of Rodrigo Paz, Bolivia’s presidential candidate, celebrate following the initial result announcement of the presidential election in La Paz, Bolivia, on Sunday. Photo: AFP

Bolivian presidential candidate Samuel Doria Medina with his wife, Nidia Monje, as their daughter Sandra looks on after he voted in the election in La Paz on Sunday. Photo: AP

Former Bolivian president Evo Morales leaves after voting at a polling station in Bolivia on Sunday. Photo: AFP

World economy not doing as badly as feared, IMF chief says

IMF Managing Director Kristalina Georgieva, who said the world economy has proven more resilient than expected. Photo: Reuters

IMF’s Kristalina Georgieva speaking about US tariffs. Photo: Reuters

US launches US$20 billion financial lifeline for Argentina, buys pesos in rare move

Argentina’s President Javier Milei during  a meeting with US President Donald Trump in New York in September. Photo: Reuters

US Treasury Secretary Scott Bessent. Photo: Reuters

Argentina’s President Javier Milei and US President Donald Trump meeting in New York in September. Photo: Reuters

Trump administration ties Argentina support to rollback of China credit line

Argentine President Javier Milei leaves the podium after speaking at the general debate of the UN General Assembly in New York on Thursday. Photo: Zuma

US President Donald Trump during a meeting with Milei (not pictured) at the UN General Assembly on Tuesday. Photo: Reuters

News

World

Americas

In his victory address, Rodrigo Paz said Bolivia was ‘reclaiming its place on the international stage’


In his victory address, Rodrigo Paz said Bolivia was ‘reclaiming its place on the international stage’.


Bolivia elects centrist Rodrigo Paz as president, ending 2 decades of socialism

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}In his victory address, Rodrigo Paz said Bolivia was ‘reclaiming its place on the international stage’

In his victory address, Rodrigo Paz said Bolivia was ‘reclaiming its place on the international stage’