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Rodrigo Paz, a centrist senator, has won Bolivia’s presidential runoff, marking a political shift after nearly 20 years of leadership by the Movement Toward Socialism (MAS) party. Preliminary results showed Paz securing 54.5% of the vote against former President Jorge “Tuto” Quiroga’s 45.5%.
Economic Crisis Fuels Victory
Paz and his running mate, former police captain Edman Lara, tapped into widespread frustration over record inflation and a severe dollar shortage that has crippled Bolivia’s economy. Many voters were skeptical of Quiroga’s proposed IMF bailout and preferred Paz’s gradual approach to reform.
End of an Era
MAS, weakened by internal divisions and economic discontent, suffered a historic defeat. Paz’s win signals the biggest political change since Evo Morales’s 2005 election. His party holds a slight majority in Congress, giving him room to push through reforms.
Gradual Economic Overhaul Planned
Paz aims to end the fixed exchange rate, phase out fuel subsidies, and reduce public spending while avoiding a recession. He promised to fight corruption and restore confidence in the boliviano instead of turning to the IMF for support.
Supporters Celebrate, Opponent Concedes
Celebrations erupted in La Paz as Paz declared victory. Quiroga conceded, calling for calm despite jeers from his supporters. The U.S. congratulated Paz, signaling hopes of renewed relations after years of strained diplomacy.
Challenges Ahead
Paz inherits soaring inflation, dwindling foreign reserves, and paralyzing fuel shortages. While his promises of cash handouts aim to cushion economic pain, critics doubt the fiscal feasibility of his plans.
Unexpected Political Rise
Although the son of former President Jaime Paz Zamora, Rodrigo Paz had long been a low-profile figure. His message of “capitalism for all” resonated with rural voters and small business owners once loyal to Morales, propelling him from underdog to frontrunner.
Lara’s Outsider Appeal
Running mate Edman Lara, a viral TikTok figure who exposed police corruption, attracted disillusioned MAS supporters with promises of social benefits. His humble background helped broaden Paz’s appeal across classes and regions.
Paz takes office on Nov. 8, tasked with steering Bolivia through its worst economic turmoil in decades while uniting a deeply divided nation.
For more on this story, stay tuned to Que Onda Magazine.