Politics "Capitalism for all": Paz sworn in as president in Bolivia
Rodrigo Paz Pereira has been sworn in as president in Bolivia. "God, family and country, yes, I swear," said the 58-year-old as he took the oath of office. The ceremony marks the end of an era of left-wing governments that lasted almost two decades and was long characterized by the power struggle between former President Evo Morales and outgoing head of state Luis Arce from the left-wing Movimiento al Socialismo (MAS) party. "Today marks the beginning of a new era of independence in the service of the people," said Paz, as he is commonly known. "This is the new Bolivia that is opening up to the world."
08.11.2025, 18:37
SDA
Paz, candidate of the Christian Democratic Party "Partido Demócrata Cristiano", which is considered part of the political center, won the run-off election against former President Jorge Quiroga. Former head of state Morales, on the other hand, an icon of the Latin American left, was not allowed to stand for re-election under the rules of the constitution. And Arce had withdrawn from the presidential race due to falling popularity ratings.
Paz is facing considerable challenges, such as an economic crisis with high inflation and shortages of gasoline, food and an acute shortage of medicines. The landlocked country, which is around three times the size of Germany but only has around twelve million inhabitants, is one of the poorest countries in South America.
Opening up the economy and strengthening foreign relations
At the inauguration, which was attended by several South American heads of state such as Argentina's President Javier Milei and Chile's President Gabriel Boric, Paz promised a policy of "capitalism for all". He announced a gradual opening of the economy, targeted subsidy cuts and stronger foreign relations - including a cautious rapprochement with the USA after years of ice age under left-wing governments.
Bolivia has the world's largest reserves of lithium, a key raw material for batteries and electric cars. Their development has faltered so far and investment has been slow. Under the new government, German companies are also hoping for new opportunities for cooperation.
