Overview
- Official results show Paz won the October runoff with about 55% to Jorge Quiroga’s roughly 45%, and the rival’s supporters allege fraud.
- Annual inflation reached 19% in October after a July peak of 25%, with foreign-exchange reserves largely depleted by fuel subsidies and reported shortages of fuel, food and medicines.
- Paz pledged a pro-market program branded “Capitalism for all,” promising to cut fuel subsidies by more than half and pursue tax changes while maintaining social spending.
- Bolivia and the United States announced a return to ambassador-level relations, with U.S. Deputy Secretary Christopher Landau calling it the proper level after both countries expelled ambassadors 17 years ago.
- The new government points to the country’s world-leading lithium reserves as a draw for fresh investment after years of slow development.