Rodrigo Paz faces Bolivia’s worst financial disaster in 40 years, with excessive inflation and a scarcity of gasoline and {dollars}.
Revealed On 8 Nov 2025
Rodrigo Paz has been sworn in as Bolivia’s president, ushering in a brand new period for the South American nation after practically 20 years of governance by the Motion for Socialism (MAS) get together.
Paz, the 58-year-old son of a former president, and a pro-business conservative, drew applause on the swearing-in ceremony on Saturday on the Bolivian seat of congress.
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“God, household and nation: sure, I take the oath of workplace,” stated Paz, who gained a run-off election final month.
In his inauguration speech, he later stated Bolivia would now be open to the world after 20 years of left-wing governance.
The Motion Towards Socialism get together, based by charismatic former President Evo Morales, had its heyday throughout the commodities increase of the early 2000s, however pure gasoline exports have sputtered, and its statist financial mannequin of beneficiant subsidies and a set trade fee has collapsed.
Paz should deal with Bolivia’s worst financial disaster in 40 years, with year-on-year inflation at greater than 20 % and a persistent scarcity of gasoline and {dollars}.
The outgoing authorities of Luis Arce exhausted nearly all of Bolivia’s laborious foreign money reserves to prop up a coverage of petrol and diesel subsidies.
On the marketing campaign path, the Christian Democrat Paz promised a “capitalism for all” strategy to financial reform, with decentralisation, decrease taxes and monetary self-discipline blended with continued social spending.
He additionally promised to keep up social programmes whereas stabilising the economic system, however economists have stated the 2 issues are usually not attainable on the identical time.
Paz has promised to revive ties with america.
“By no means once more an remoted Bolivia, certain by failed ideologies, or a Bolivia with its again turned to the world,” Paz stated throughout a ceremony attended by delegations from greater than 70 international locations and native VIPs.
Paz additionally introduced after the election that his authorities will cooperate with all worldwide organisations on safety issues, together with the US Drug Enforcement Administration, which Morales expelled from Bolivia on the finish of 2008.
