Reformer Paz sworn in as Bolivia’s new president | EUROtoday

As of: November eighth, 2025 8:52 p.m

In Bolivia, an period of left-wing governments that lasted virtually 20 years is coming to an finish: Rodrigo Paz, a reasonable reformer, has been sworn in as president. The challenges within the crisis-ridden nation are nice.

Rodrigo Paz has been sworn in as president of Bolivia. “God, family and fatherland, yes, I swear,” mentioned the 58-year-old when he took the oath of workplace. The ceremony marks the top of a virtually two-decade period of left-wing governments. For a very long time, the interval was characterised by the ability wrestle between ex-President Evo Morales and the outgoing head of state Luis Arce from the left-wing get together “Movimiento al Socialismo” (MAS).

“Today begins a new era of independence at the service of the people,” mentioned Paz. “This is the new Bolivia that opens to the world.” Paz, candidate of the Christian Democratic get together “Partido Demócrata Cristiano”, which is taken into account to be a part of the political middle, gained the runoff election towards former President Jorge Quiroga.

“Capitalism for all” as a promise

Paz is going through main challenges, reminiscent of an financial disaster with excessive inflation and shortages of gasoline, meals and an acute scarcity of medicines. The landlocked nation, which is about 3 times the scale of Germany however solely has round twelve million inhabitants, is among the poorest nations in South America.

At the inauguration, attended by a number of South American leaders reminiscent of Argentina’s President Javier Milei and Chile’s President Gabriel Boric, Paz once more introduced a coverage of “capitalism for all.”

Gasoline subsidies must be considerably diminished

He had already efficiently campaigned with the slogan: He desires to assist the home trade to get better via, amongst different issues, tax reform. At the identical time, he promised to not reduce social spending. However, he desires to cut back gasoline subsidies by greater than half.

These subsidies for gasoline and diesel had turn out to be an issue beneath the federal government of his predecessor Luis Arce: with a view to keep them, virtually the entire international alternate reserves have been used up. The annual inflation price was 19 % in October, after peaking at 25 % in July.

Paz requires a restart of international relations

Paz additionally desires to strengthen international relations once more. “Never again an isolated Bolivia subject to outdated ideologies, much less a Bolivia that turns its back on the world,” he mentioned in his inaugural speech. “Bolivia is returning to the world, and the world is returning to Bolivia,” he emphasised, referring to greater than 70 worldwide delegations that traveled to his swearing-in ceremony.

Among different issues, Paz desires to revive diplomatic relations with the USA that have been damaged off virtually 20 years in the past by the left-wing head of state Morales. His predecessor Arce as an alternative cast financial and political ties with Venezuela, China, Russia and Iran.

Under the brand new authorities, German corporations are additionally hoping for brand new cooperation alternatives. Bolivia has the world’s largest reserves of lithium, a key uncooked materials for batteries and electrical vehicles. Their improvement has to date stalled and investments have made solely sluggish progress.