La Paz, 20 Oct

Rodrigo Paz, a centrist senator and relative political unknown, won Bolivia's presidential election on Sunday, preliminary results showed, defeating former right-wing president Jorge “Tuto” Quiroga and ending two decades of dominance by the Movement Toward Socialism (MAS) party.

“The trend is irreversible,” said Supreme Electoral Tribunal chief Óscar Hassenteufel, confirming Paz’s 54 per cent to 45 per cent lead. Quiroga conceded shortly after the results were announced, urging calm among supporters who shouted claims of fraud.

Paz and his running mate, ex-police captain Edman Lara, attracted working-class and rural voters disillusioned with MAS’ economic model but wary of Quiroga’s conservative policies. Paz’s victory marks a major shift in Bolivian politics, promising reform after 20 years under MAS founder Evo Morales and his successors.

Paz has pledged to scrap Bolivia’s fixed exchange rate, gradually phase out fuel subsidies, and reduce public investment while maintaining social welfare schemes. He aims to balance economic reform with stability, promising not to repeat past crises triggered by abrupt austerity measures.

Paz inherits an economy in shambles

Celebrations erupted across Bolivia, with crowds flooding the streets of La Paz, waving flags, setting off fireworks, and chanting, “The people, united, will never be defeated.”

Paz inherits a struggling economy marked by depleted reserves, a weak currency, and rising inflation. He has vowed to avoid an IMF bailout, instead targeting corruption, curbing wasteful spending, and restoring confidence to encourage citizens to deposit hoarded US dollars into banks.

However, economists have criticised his plans as vague. “He’s saying things to please voters when fiscally it doesn’t add up,” said Rodrigo Tribeño, a voter from Santa Cruz. “We needed a real change.”

An outsider with political experience

Though the son of former president Jaime Paz Zamora, Paz has long remained on the periphery of national prominence despite stints as a lawmaker and mayor. His campaign slogan — “capitalism for all” — resonated with entrepreneurs frustrated by MAS-era taxes and controls.

“Paz represents a different class of leadership,” said analyst Verónica Rocha. “He’s not from the entrenched elite like Quiroga.” Paz’s moderate tone and pragmatic platform helped him rise from the bottom of the polls to victory in the August first round and now in the run-off.

An ex-cop shakes up the race

Paz’s surprise choice of running mate, Edman Lara, proved decisive. The former police officer, who gained fame on TikTok after exposing corruption, energised younger voters with populist calls for higher pensions and universal income for women.

Though his rhetoric sometimes forced Paz into damage control, Lara’s raw authenticity resonated with many Bolivians. “Lara is the one acting more like a president than Paz,” said Wendy Cornejo, a street vendor in La Paz. “Many of us think Lara will end up running the country.”

After the win, Lara struck a unifying tone: “It’s time to reconcile. Political divisions are over.”