Rodrigo Paz, a center-right conservative and son of a former Bolivian president, officially began his term as the nation’s leader on Saturday, marking the end of nearly two decades of socialist governance. At 58 years old, Paz was sworn in during a ceremony at the congressional seat in Sucre, where heavy rain fell as he took the oath of office.
“God, family and country: yes, I take the oath of office,” Paz declared, drawing applause from attendees, including dignitaries from over 70 countries. His victory followed a runoff election last month, which signaled a major political shift in the Andean nation.
In his inaugural address, Paz emphasized a new era of openness and global engagement, distancing his administration from the previous leftist policies associated with former President Evo Morales. He criticized the past two decades as marked by ideological isolation and economic decline.
“Never again a Bolivia cut off from the world or trapped in failed doctrines,” he stated, outlining a vision for reintegration into international markets and diplomacy.
One of his first actions after the ceremony was confirming the restoration of full ambassadorial-level relations with the United States—severed for 17 years—alongside U.S. Deputy Secretary of State Christopher Landau. This move fulfills a campaign promise made shortly after his electoral win and reflects a strategic pivot toward Western alliances.
Paz inherits a country facing its most severe economic downturn in four decades. Inflation has surpassed 20 percent year-on-year, and widespread shortages of fuel and foreign currency have disrupted daily life. Long lines at gas stations have become commonplace, a consequence of depleted foreign reserves used to sustain fuel subsidies under outgoing President Luis Arce.
During his campaign, Paz advocated for a market-driven model he described as “capitalism for all,” combining tax reductions, fiscal responsibility, and decentralization with sustained social welfare programs. However, economic analysts remain skeptical about the feasibility of balancing fiscal reform with continued high social spending.
— news from France 24
— News Original —
Bolivia’s President Paz sworn in, ties with US to resume at ambassador level
Rodrigo Paz, a pro-business conservative, took office Saturday as Bolivia ‘s president, ending nearly 20 years of socialist rule and inheriting acute economic woes. n nPaz, the 58-year-old son of a former president, drew applause at the swearing-in ceremony at the Bolivian seat of congress as a torrential downpour fell outside. n n”God, family and country: yes, I take the oath of office,” said Paz, who won a run-off election last month. n nIn his inauguration speech, he later said Bolivia would now be different and open to the world after two decades of leftist rule that many here blame for the country ‘s economic ills. n n”Never again an isolated Bolivia, bound by failed ideologies, or a Bolivia with its back turned to the world,” Paz said during a ceremony attended by delegations from more than 70 countries and local VIPs. n nUnder Evo Morales, in office from 2006 to 2019, Bolivia took a sharp turn to the left, nationalising energy resources, breaking ties with Washington and making alliances with China, Russia and fellow leftists in Cuba, Venezuela and elsewhere in Latin America. n nShortly after his election last month, Paz vowed to restore ties with the US. n nOn Saturday, hours after his inauguration, Paz and visiting US Deputy Secretary of State Christopher Landau said the two countries restore diplomatic relations at the ambassadorial level after a 17-year break. n n”We ‘re going to establish those relations,” Bolivia ‘s new center-right leader said, with the Trump administration official specifying relations will resume at the ambassadorial level. n nDeep economic crisis n nPaz will have to address Bolivia ‘s worst economic crisis in 40 years, with year-on-year inflation at more than 20 percent and a chronic shortage of fuel and dollars. n nLong queues for motorists seeking to fill their tanks have become a way of life. n nThe outgoing government of Luis Arce exhausted almost all of Bolivia ‘s hard currency reserves to prop up a policy of gasoline and diesel subsidies. n nOn the campaign trail, the Christian Democrat Paz promised a “capitalism for all” approach to economic reform, with decentralisation, lower taxes and fiscal discipline mixed with continued social spending. n nHe also promised to maintain social programs while stabilising the economy, but economists have said the two things are not possible at the same time. n n(FRANCE 24 with AFP)