LA PAZ, Bolivia — In a historic shift, conservative leader Rodrigo Paz was inaugurated as Bolivia’s new president on Saturday, marking the end of nearly two decades of dominance by the left-wing Movement Toward Socialism (MAS) party. The swearing-in ceremony, attended by lawmakers and foreign dignitaries, symbolized a turning point for the Andean nation, which is grappling with its worst economic crisis in 40 years. Paz, 58, took the oath of office with his hand on a Bible and a cross, pledging to uphold “God, country, and family.” His victory in last month’s presidential runoff surprised many, as he defeated the more prominent right-wing candidate, former President Jorge “Tuto” Quiroga. Paz inherits a struggling economy characterized by severe fuel shortages, high food prices, and a collapsed statist economic model. His administration aims to implement gradual reforms to stabilize the economy, contrasting with Quiroga’s proposed IMF-backed fiscal shock program. Paz has also signaled a shift in foreign policy, distancing Bolivia from the ALBA bloc and seeking closer ties with the United States and international financial institutions. Despite these efforts, his government faces significant challenges, including building political alliances, as his Christian Democratic Party holds only 39% of the Legislative Assembly seats.
Rodrigo Paz sworn in as Bolivia’s new president, ending 20 years of one-party rule
