Overview
- Paz, 58, took the oath in La Paz and proclaimed a “new Bolivia” that opens to the world.
- He pledged a program of “Capitalism for all,” promising tax reform, protection of social spending, and a reduction of gasoline subsidies by more than half.
- U.S. Vice Foreign Secretary Christopher Landau announced the restoration of ambassador-level relations between Washington and La Paz.
- Bolivia faces 19% annual inflation in October after a July peak near 25%, depleted foreign-exchange reserves from fuel subsidies, and shortages of fuel, food, and medicines.
- Official results show Paz won the October runoff with about 55% to Jorge “Tuto” Quiroga’s roughly 45%, while Quiroga supporters allege fraud.