Rodrigo Paz has officially assumed the presidency of Bolivia, marking a significant shift in the nation’s political landscape after nearly 20 years of governance by the Movement for Socialism (MAS) party. The 58-year-old conservative business advocate and son of a former president was sworn in during a ceremony at the Plurinational Legislative Assembly in La Paz, Bolivia, on Saturday. His inauguration was met with applause from attendees, signaling hope for a new direction.
In his inaugural address, Paz emphasized a commitment to ‘God, family, and homeland,’ and declared that Bolivia is now open to the world after two decades of leftist rule. He pledged to address the country’s severe economic crisis, which includes annual inflation exceeding 20%, chronic fuel shortages, and a depletion of foreign currency reserves. The outgoing administration of Luis Arce had exhausted nearly all reserves to sustain fuel subsidies, leaving Paz with a daunting task.
Paz, a Christian Democrat, campaigned on a platform of ‘capitalism for all,’ promising economic reforms centered on decentralization, lower taxes, fiscal discipline, and continued social spending. However, economists have expressed skepticism about the feasibility of simultaneously stabilizing the economy and maintaining social programs.
In a bold move, Paz also vowed to restore ties with the United States and collaborate with international security organizations, including the U.S. Drug Enforcement Administration, which was expelled by former President Evo Morales in 2008. ‘Never again a Bolivia isolated by failed ideologies or turning its back on the world,’ Paz declared during the ceremony, attended by delegations from over 70 countries and local dignitaries.
Paz’s presidency signals a departure from the state-centric economic model of the MAS era, which thrived during the early 2000s commodity boom but later faltered due to declining natural gas exports and unsustainable subsidies. His administration faces the challenge of navigating Bolivia’s worst economic crisis in 40 years while balancing the demands of reform and social welfare.









