Sat Nov 08 18:52:19 UTC 2025: Summary:

Rodrigo Paz, a pro-business conservative, has been sworn in as Bolivia’s president after 20 years of governance by the Movement for Socialism (MAS) party. He inherits Bolivia’s worst economic crisis in 40 years, characterized by high inflation and shortages of fuel and dollars. Paz has vowed to open Bolivia to the world, implement economic reforms, and cooperate internationally, including with the US Drug Enforcement Administration. He faces the challenge of balancing economic stabilization with maintaining social programs.

News Article:

Bolivia Welcomes New President Amidst Crippling Economic Crisis

La Paz, Bolivia – Rodrigo Paz was inaugurated as Bolivia’s new president on Saturday, marking the end of nearly two decades of socialist rule under the Movement for Socialism (MAS) party. Paz, a 58-year-old pro-business conservative, takes office facing the nation’s most severe economic crisis in 40 years, including soaring inflation and critical shortages of fuel and U.S. dollars.

“God, family and country: yes, I take the oath of office,” Paz declared at the congressional ceremony, promising a new era for Bolivia. He stated his intent to open the nation to the world, reversing the isolationist policies of the previous administration.

The MAS party, founded by former President Evo Morales, struggled after the natural gas export boom ended, and its reliance on generous subsidies and a fixed exchange rate led to depleted hard currency reserves.

President Paz has pledged to implement “capitalism for all,” including decentralization, lower taxes, and fiscal discipline, while maintaining social safety nets. Economists have expressed skepticism about the feasibility of simultaneously stabilizing the economy and maintaining existing social programs.

“Never again an isolated Bolivia, bound by failed ideologies, or a Bolivia with its back turned to the world,” Paz asserted.

In a significant policy shift, Paz has also promised to cooperate with international organizations, including the U.S. Drug Enforcement Administration (DEA), signaling a departure from Morales’s expulsion of the agency in 2008. The new administration’s economic and foreign policy choices will be closely watched as it navigates the challenging path ahead.

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