Rodrigo Paz Ushers in New Political Era in Bolivia

Rodrigo Paz of Bolivia's Christian Democratic Party has been elected president, marking the end of nearly two decades of socialist leadership. His party lacks a legislative majority, necessitating alliances. Paz won with 54.5% votes, pledging economic reforms amid the country's crisis.

Rodrigo Paz of the centre-right Christian Democratic Party (PDC) in Bolivia has become the country's new president, heralding a shift from nearly 20 years of socialist rule, Al Jazeera reported. Despite his victory, Paz's party does not hold a legislative majority, requiring coalition-building for effective governance. The new president will assume office on November 8.

With 97% of the vote tallied, Paz secured a decisive win with 54.5% in the run-off election against right-wing former interim President Jorge "Tuto" Quiroga, who garnered 45.4%, as announced by Bolivia's Supreme Electoral Tribunal (TSE). The 58-year-old centrist senator and economist, son of former leftist President Jaime Zamora, studied in the United States before entering Bolivian politics, promising "capitalism for all."

Both candidates aimed to address Bolivia's harsh economic crisis and repair frayed diplomatic ties with Washington, which worsened during the tenures of Evo Morales and his successor Luis Arce. According to Al Jazeera, the ruling Movement Towards Socialism (MAS), politically dominant since Morales's 2006 presidency, failed to secure a run-off spot, reflecting internal discord marking the end of a political era.

Bolivia is grappling with an economic downturn characterized by 25% annual inflation, severe US dollar and fuel shortages, leading to public protests over exorbitant prices and long queues for essentials ahead of the August 17 general election.

Following the election results, Paz's vice-presidential candidate, Edmand Lara, called for "unity and reconciliation," emphasizing the necessity to stabilize diesel and gasoline supply, curb inflation of basic goods, and eradicate corruption, as reported by Al Jazeera. (ANI)

(With inputs from agencies.)