Bolivia finds itself at a crossroads after nearly two decades of left-wing rule, as voters turned out in droves on Sunday, October 19, 2025, for a historic presidential runoff that pits two conservative candidates against each other in a bid to rescue the country from its most severe economic crisis in decades. The contest—between former President Jorge “Tuto” Quiroga and centrist Senator Rodrigo Paz—marks a dramatic departure from the Movement Toward Socialism (MAS) party, which, under the leadership of Evo Morales, had dominated Bolivian politics since 2006.
For many Bolivians, the stakes could hardly be higher. Since 2023, the country has been gripped by a crippling shortage of U.S. dollars, leaving citizens locked out of their own savings and making it nearly impossible for businesses to import goods. According to the Associated Press, the value of the boliviano on the black market has plummeted to half the official exchange rate, while year-on-year inflation soared to 23% in September—the highest level since 1991. Fuel shortages have become so severe that motorists often wait days in line to fill their tanks. The economic pain is palpable, with public frustration mounting over the government’s inability to stem the crisis.
The runoff, compulsory for Bolivia’s nearly 8 million eligible voters, comes after MAS suffered a historic defeat in the first round of voting on August 17, 2025. The party, once buoyed by Morales’ charisma and a boom in natural gas exports, has been battered by internal divisions and widespread anger over fuel lines and inflation. Both Quiroga and Paz have promised to break with the budget-busting populism of the past and chart a new course for the nation.
Quiroga, who briefly served as president from 2001 to 2002 and has run unsuccessfully for the office three times before, is championing an aggressive reform agenda. He wants to secure a large rescue package from the International Monetary Fund (IMF) and other multilateral lenders to get dollars flowing into Bolivia immediately. This approach would require what he calls “savage cuts” in state spending: slashing fuel subsidies, shrinking the public payroll, and dramatically reducing state involvement in the gas and mining industries. “We have the opportunity to change Bolivia,” Quiroga declared to supporters and journalists as he cast his ballot in La Paz, according to the Associated Press.
His supporters argue that drastic measures are needed to resolve the crisis. Mirian Chávez, a 24-year-old architecture student, told the AP, “I think Quiroga is better prepared. The crisis needs to be resolved now.” But others worry about the potential pain such measures could inflict. Public transportation unions have already threatened unrest if fuel subsidies are lifted, recalling the mass protests that forced Morales to abandon a similar plan in 2011 after less than a week.
Paz, by contrast, is advocating a more gradual approach. He pledges to phase out fuel subsidies over time and maintain MAS-style social protections, such as cash handouts to the poor, to cushion the blow for the most vulnerable. Paz has made it clear he wants nothing to do with the IMF, an institution deeply unpopular in Bolivia after nearly two decades of leftist rule. Instead, he proposes to legalize the black market and fight corruption as a way to scrape together desperately needed dollars. “I don’t want a neoliberal president who imposes shock measures,” said 27-year-old taxi driver Marcelino Choque, who supports Paz’s cautious stance.
Paz’s running mate, Edman Lara, has become something of a folk hero among working-class Bolivians. Known as “Captain Lara,” he was fired from the police in 2023 after exposing corruption through viral TikTok videos, drawing a huge following from former MAS supporters disillusioned with the party’s taxes and regulations. Together, Paz and Lara have run a fast-paced, underdog campaign, crisscrossing the country with no-frills events and a message of “capitalism for all.”
The candidates’ divergent styles and proposed reforms have energized voters in different ways. Some, like high school teacher Carlos Flores, expressed excitement at finally having a real choice after years of one-party dominance. “Since 2005 we haven’t had any real options, so this is exciting for me,” he said while waiting in line to vote for Paz. Others, such as unemployed bricklayer Javier Quisbert, voiced deep skepticism about the political process itself, saying, “Every candidate promises and promises, but when they get to power, they forget about the people.”
As polling stations closed across Bolivia, the vote count unfolded in classrooms and community centers, with workers reading ballots aloud and recording results for transmission to the Supreme Electoral Court. The anticipation was palpable, with crowds gathering to watch the process and debate the country’s future.
Whoever emerges victorious faces an uphill battle, not least because of Bolivia’s daunting geography—much of the country sits at a breathtaking 4,150 meters (13,600 feet) above sea level. The economic challenges are just as steep. In 2024, Bolivia spent $2 billion on fuel subsidies alone, a figure widely seen as unsustainable. Gas exploration and production, once the backbone of the economy, have collapsed, leaving the state with fewer resources to maintain its generous spending. Both candidates agree that eliminating fuel subsidies is essential for restoring fiscal order, but the memories of past unrest loom large.
The implications of this election extend far beyond Bolivia’s borders. As noted by the Associated Press, the end of MAS’s two-decade hegemony could trigger a major economic and geopolitical realignment across South America. Both Quiroga and Paz have signaled a willingness to welcome foreign investment and encourage private enterprise, especially in Bolivia’s untapped lithium sector—the country is believed to hold the world’s greatest reserves of this critical mineral but has long struggled to develop its potential.
Perhaps most strikingly, the election signals a shift away from Bolivia’s traditional alliances with China and Russia and toward closer ties with the United States. In September, both candidates traveled to Washington to meet with IMF and Trump administration officials. U.S. Secretary of State Marco Rubio called the election “another transformative opportunity” for stronger U.S.-Bolivia relations, while President Donald Trump remarked, “Like Bolivia, there are numerous other countries coming our way.”
As the dust settles and the final votes are tallied, Bolivia stands on the threshold of a new era—one that promises change, but also demands tough choices. The coming months will reveal whether the country can navigate its way out of crisis and toward a more stable and prosperous future.
