La paz: Bolivians have elected Rodrigo Paz of the centre-right Christian Democratic Party (PDC) as their new president, ending nearly two decades of rule by the Movement for Socialism (MAS) party. With 97% of ballots counted, Paz secured 54.5% of the vote in Sunday’s run-off, according to figures released by the Supreme Electoral Tribunal (TSE). Paz is scheduled to take office on November 8, succeeding outgoing President Luis Arce, who chose not to seek re-election after a five-year term marked by Bolivia’s worst economic crisis in four decades.
According to Qatar News Agency, the country is currently grappling with a severe fuel shortage caused by collapsing gas exports and dwindling foreign currency reserves, which have pushed inflation above 23% and led to long queues at fuel stations. Paz’s economic platform focuses on cutting government spending, particularly fuel subsidies, while encouraging private-sector expansion and implementing a model of “capitalism for all” based on decentralization and fiscal discipline before resorting to new borrowing.