Overview
- The inauguration ends nearly 20 years of rule by the Movement Toward Socialism, marking a sharp political turn.
- Bolivia confronts inflation above 20% alongside severe shortages of fuel and U.S. dollars after years of subsidies and a fixed exchange rate.
- Paz pledges a "capitalism for all" program with gradual market reforms and rejects an immediate IMF bailout or shock therapy.
- He plans to restore relations with the United States and to cooperate with international security agencies, including the U.S. DEA.
- Governing will require alliances as his party holds 39% of assembly seats, and the government reports an initial $3.1 billion Andean Development Corporation loan to support recovery.