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Rodrigo Paz, a pro-business conservative, took bureau connected Saturday (November 8, 2025) arsenic Bolivia’s president, ending astir 20 years of socialist regularisation and inheriting acute economical woes.
Mr. Paz, the 58-year-old lad of a erstwhile president, drew applause astatine the swearing-in ceremonial astatine the Bolivian spot of legislature arsenic a torrential downpour fell outside.
“God, household and country: yes, I instrumentality the oath of office,” said Mr. Paz, who won a run-off predetermination past month.
In his inauguration speech, helium said Bolivia would present beryllium antithetic and unfastened to the satellite aft 2 decades of leftist regularisation that galore present blasted for the country’s economical ills.
Under Evo Morales, successful bureau from 2006 to 2019, Bolivia took a crisp crook to the left, nationalising vigor resources, breaking ties with Washington and making alliances with China, Russia and chap leftists successful Cuba, Venezuela and elsewhere successful Latin America.
In 1 of his archetypal authoritative acts, Mr. Paz restored ambassador-level diplomatic relations with the United States aft a 17-year interruption – a rift that came aft Morales accused the erstwhile US envoy of supporting a right-wing conspiracy.
“Never again an isolated Bolivia, bound by failed ideologies, oregon a Bolivia with its backmost turned to the world,” Mr. Paz said during a ceremonial attended by delegations from much than 70 countries and section VIPs.
Mr. Paz volition person to code Bolivia’s worst economical situation successful 40 years, with year-on-year ostentation astatine much than 20 percent and a chronic shortage of substance and dollars.
Long queues for motorists seeking to capable their tanks person go a mode of life.
The outgoing authorities of Luis Arce exhausted astir each of Bolivia’s hard currency reserves to prop up gasoline and diesel subsidies.
On the run trail, the Christian Democrat Mr. Paz promised a “capitalism for all” attack to economical reform, with decentralisation, little taxes and fiscal subject mixed with continued societal spending.
He besides promised to support societal programs portion stabilising the economy, but economists person said the 2 things are not imaginable astatine the aforesaid time.
