Bolivia Elects Rightwing President Ending Two-Decade Socialist Rule Amid Economic Crisis

Bolivians voted in a presidential runoff between two pro-business candidates, Rodrigo Paz and Jorge "Tuto" Quiroga, marking the end of two decades of socialist governance which have left the country in its worst economic crisis in decades. The Movement Toward Socialism party, founded by former president Evo Morales, was rejected amidst shortages of dollars and fuel and more than 20 percent inflation, with voters weary of economic hardship including long queues at gas stations. Both candidates have promised a shift towards market-friendly policies and intend to strengthen diplomatic ties with the United States, seeking financial support to stabilize the economy. The election concludes a period of initial prosperity driven by Morales's nationalization of gas reserves, followed by economic decline due to underinvestment in hydrocarbons and depletion of dollar reserves under outgoing leader Luis Arce. Analysts warn that if the new government fails to address the suffering of vulnerable populations, Bolivia could face social unrest. The new leadership faces the challenge of reviving an economy in recession while managing public discontent and restoring confidence.