• Rodrigo Paz elected president of Bolivia, securing 54.53% of the vote against Jorge "Tuto" Quiroga.
• Paz's victory ends nearly two decades of governance by the socialist Movement Toward Socialism (MAS) party.
• He plans to implement "capitalism for all," focusing on economic reforms and social programs.
• The election results reflect voters' discontent with the ongoing economic crisis.
• Paz will officially take office on November 8, 2025.

Rodrigo Paz, a centrist senator from the Christian Democratic Party (PDC), has emerged victorious in Bolivia's presidential runoff, capturing 54.53% of the vote. His competitor, Jorge "Tuto" Quiroga, trailed with 45.47% according to early results from the Supreme Electoral Tribunal. This election ends nearly two decades of socialist rule characterized by the Movement Toward Socialism (MAS) party, which many voters rejected amid a severe economic crisis, according to Reuters, Los Angeles Times, and BBC.

Born in Spain and raised in an exiled Bolivian family, Paz plans policies promoting "capitalism for all," including tax incentives and expanding economic freedoms. His moderate platform attracted both working-class and rural voters who were disillusioned by MAS’s unrestrained spending. His election comes at a time of crippling inflation, soaring to 23% last month, alongside severe shortages of U.S. dollars and fuel, according to Anadolu Agency and NPR.

Paz’s victory reflects a significant political shift, as he takes over a nation with immediate challenges, including a fractured parliament where no single party holds a majority. This means Paz will need to form alliances to push through necessary reforms amidst criticism over his fiscal policies, particularly regarding subsidy cuts and social welfare, reports Le Monde and India Times.

During his campaign, Paz emphasized maintaining essential social programs for the poor while promoting growth initiatives, a balance that some economists see as difficult to achieve given the country’s fiscal constraints. His administration promises reforms that appeal to those yearning for changes from the prior regime, which faced public ire over the economic mismanagement, according to Al Jazeera and BBC.

Paz’s vice-presidential running mate, Edman Lara, a former police officer, has garnered public attention for his strong stances against corruption, further solidifying the new administration's commitment to addressing widespread discontent with governmental practices. Lara's popularity, particularly among younger and rural voters, has been seen as a crucial factor in their electoral success, according to Los Angeles Times and BBC.