Overview
- Leaders from across the region attended the ceremony in La Paz, including Argentina’s Javier Milei, Chile’s Gabriel Boric, Ecuador’s Daniel Noboa, Paraguay’s Santiago Peña and Uruguay’s Yamandú Orsi.
- Paz pledged to “open the country to the world” with a “capitalism for all” program, promising gradual adjustments, lower taxes and fewer subsidies, and cooperation with international security agencies such as the U.S. DEA.
- The new administration inherits fuel and dollar shortages with GDP down 2.4% in the first half and inflation near 18% to September, according to official data.
- An initial financing agreement with development bank CAF for about $3.1 billion was secured as part of early outreach to multilaterals and Western partners.
- Hours before the handover, the MAS expelled outgoing president Luis Arce and said it will ask prosecutors to open inquiries, while Paz starts governing without a legislative majority and must build coalitions.