Rodrigo Paz wins Bolivia presidential election, ending 20 years of socialist rule

Don’t miss the full story, whose reporting from Isabel Debre and Paola Flores at The Associated Press is the basis of this AI-assisted article.

Centrist Sen. Rodrigo Paz has won Bolivia’s presidential election with 54.5% of the vote, ending nearly two decades of Movement Toward Socialism party rule as the country grapples with its worst economic crisis in decades.

Some key facts:

• Paz defeated former right-wing President Jorge “Tuto” Quiroga, who received 45.5% of the votes in the runoff election.

• The victory marks Bolivia’s first major political transformation since Evo Morales’ election in 2005 and the end of nearly 20 years of Movement Toward Socialism (MAS) party dominance.

• Paz’s running mate, ex-police Capt. Edman Lara, gained fame on TikTok for denouncing corruption and helped galvanize working-class and rural voters.

• Bolivia is experiencing record inflation of 23% year-on-year, an acute dollar shortage, and severe fuel shortages that leave motorists waiting days in line.

• Paz plans to end Bolivia’s fixed exchange rate, phase out fuel subsidies, and reduce public investment while taking a gradual approach to free-market reforms.

• Paz’s Christian Democratic Party won six of nine regional departments, including traditional MAS strongholds in the Andean highlands and coca-producing Cochabamba.

• The U.S. State Department congratulated Paz and expressed interest in working with Bolivia to restore economic stability, marking improved relations after tensions during the Morales era.

• Paz, son of former President Jaime Paz Zamora, will take office on Nov. 8 and faces the immediate challenge of replenishing foreign currency reserves and restoring fuel imports.

READ MORE: Rodrigo Paz wins presidential runoff, becoming Bolivia’s first conservative leader in decades