Bolivia, once a poster child for Latin America’s leftist “pink tide,” has delivered a stunning electoral blow to its long-dominant socialist party, signaling a seismic shift in the region’s political landscape. On August 17, 2025, the Movement Towards Socialism (MAS) party—helmed for years by former President Evo Morales—barely managed to scrape together 3 percent of the vote in national elections, a collapse that would have seemed unthinkable just a decade ago. The outcome not only ends nearly two decades of socialist rule in Bolivia but also mirrors a broader trend: across Latin America, voters are turning away from incumbent leftist governments, frustrated by economic turmoil, rising crime, and unmet promises of stability and prosperity.
Bolivia’s election results were dramatic. Two right-leaning candidates, Senator Rodrigo Paz and former President Jorge "Tuto" Quiroga, surged to the top and will now face off in a historic runoff on October 19, 2025—the first of its kind in the country’s modern democratic history. According to Reason, Paz emerged as the surprise frontrunner with 32 percent of the vote, while Quiroga trailed closely with 26.94 percent. MAS, the once-mighty party of Morales, was left in the dust, its project described by Bolivian policy analyst Rolando Schrupp as having “imploded by itself,” a casualty of public exhaustion after nearly twenty years in power.
The collapse of Bolivia’s socialists didn’t happen overnight. The country’s economic fortunes have spiraled downward in recent years. Inflation soared to 25 percent annually, net reserves plummeted from roughly $14 billion a decade ago to just $2 billion by 2025, and fuel shortages became so acute that drivers regularly queued for hours—sometimes sleeping overnight in their cars—just to fill their tanks. Carlos Aranda, an economist with the Centro de Políticas Públicas para la Libertad, told Reason, “Inflation, fuel shortages, and a devaluation that wiped out wages hit the popular base hardest. People feel like they are paying the price for decades of fiscal irresponsibility.”
The political drama is deeply intertwined with the legacy of Evo Morales, Bolivia’s first indigenous president and a central figure in Latin America’s leftward swing of the early 2000s. Morales rode a wave of popularity after sweeping nationalizations and ambitious social programs, winning three consecutive elections. But his maneuvering to remain in power indefinitely—culminating in a controversial fourth run in 2019—sparked mass protests and allegations of electoral fraud. Morales was ultimately forced to resign under pressure from the military and widespread public outrage. Since then, he has become increasingly isolated, retreating to his coca-growing strongholds in the Bolivian Andes and facing an arrest warrant on sexual abuse allegations, which he dismisses as politically motivated persecution.
With Morales sidelined and MAS in disarray, the October runoff will pit two very different visions for Bolivia’s future against each other. Senator Rodrigo Paz, 57, is the son of former President Jaime Paz and has built his campaign on a pragmatic centrist platform that appeals to both disillusioned MAS voters and moderate urban professionals. His running mate, Edman Lara, a former police officer turned anticorruption influencer, has injected fresh energy into the ticket. Political scientist Oscar Mario Tomianovic described Paz’s rise as “perhaps the greatest electoral surprise since Bolivia’s return to democracy,” attributing his success to a combination of rival disqualifications, Lara’s outsider appeal, and a quiet, low-cost campaign that resonated with undecided voters.
Facing Paz is Jorge Quiroga, 65, a conservative technocrat with a brief stint as president in the early 2000s. Quiroga is campaigning on a platform of free-market reforms, fiscal austerity, and the promise of “radical change” through shock-therapy policies and a potential deal with the International Monetary Fund. His running mate, tech entrepreneur Juan Pablo Velasco, brands their ticket as a modernizing “liberal duo.” While Quiroga’s economic proposals echo the fiscal discipline and subsidy cuts championed by Argentina’s libertarian president Javier Milei, the Bolivian contest is less about ideology and more about competing styles and approaches to the country’s dire economic predicament.
The Bolivian upheaval fits a pattern playing out across Latin America. According to StratNews Global, the defeat of Bolivia’s socialists underscores a wider pushback against incumbent leftist governments, a trend that has accelerated since the pandemic. Voters in the region have grown increasingly anxious about soaring inflation, fuel shortages, rising crime, and a lack of economic opportunity. These concerns have fueled the rise of right-leaning candidates not only in Bolivia but also in neighboring countries.
Right-wing momentum is building ahead of major elections in Chile, Colombia, Peru, and Brazil over the next 18 months. Ecuador and Argentina have already elected right-leaning leaders. In Colombia, President Gustavo Petro—once a symbol of the left’s rise—has struggled to deliver on his promises of peace and economic reform. Crime and rebel groups are resurgent, and the assassination of young right-wing candidate Miguel Uribe has pushed security to the forefront of voters’ concerns. In Chile, the upcoming November presidential election is dominated by right-wing candidates, with far-right frontrunner Jose Antonio Kast benefiting from public anxiety over crime and economic stagnation. Peru’s April 2026 presidential contest is led by two right-wing figures, Lima Mayor Rafael Lopez Aliaga and Keiko Fujimori, as incumbent Dina Boluarte’s approval ratings languish in the single digits.
The region’s most closely watched contest may be in Brazil, where veteran leftist President Luiz Inacio Lula da Silva is seeking another term in 2026. Lula faces vulnerabilities on security, corruption, and his age, though he has recently enjoyed a bump in support following a backlash against harsh U.S. tariffs. Risa Grais-Targow, Latin America director at Eurasia Group, told StratNews Global, “This kind of security issue is a vulnerability—security, corruption and then Lula’s age are all vulnerabilities for him.”
While the left’s failures have not guaranteed a permanent realignment, they have created an opening for leaders promising radical alternatives. Argentina’s Javier Milei, for example, has made headlines with his fiscal shock therapy, cooling inflation and reducing poverty. In Ecuador, Daniel Noboa’s blend of tough security policies and pragmatic economic partnerships has secured him a second term. Colombia appears poised for a rightward shift in its 2026 election, with conservative journalist Vicky Dávila emerging as a leading contender.
Bolivia’s rejection of democratic socialism may be the most dramatic reversal of the pink tide yet. But as Reason cautions, Latin American voters are known for their cyclical swings. The pink tide might be over for now, but history suggests it could come roaring back, bringing a new wave of political and economic turbulence. For now, all eyes are on Bolivia’s October runoff, where the outcome will not only determine the country’s trajectory but could also set the tone for the region’s next chapter.
The stakes are high, and the choices stark. Whether Bolivia’s next leader can stabilize the economy and restore public trust remains to be seen, but one thing is clear: the era of socialist dominance in Bolivia is over, and the region is watching closely for what comes next.
