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Rodrigo Paz Assumes Bolivia's Presidency
(MENAFN) Rodrigo Paz officially assumed Bolivia's presidency Saturday during a parliamentary ceremony, pledging to rescue a nation he says was left economically devastated by his predecessors.
The center-right victor of the October 19 runoff election received the presidential sash in a formal inauguration at Congress in La Paz, the country's administrative capital, launching his five-year term that extends through 2030.
In his inaugural address, Paz painted a grim picture of Bolivia's fiscal state, asserting that outgoing administrations abandoned an economy "in collapse, trapped in inflation and debt."
"We inherited a destroyed country," he said. "They left us with a collapsed economy, the lowest international reserves in 30 years, inflation, shortages, debt, and insecurity."
The new president didn't mince words about the scale of the challenge ahead, declaring: "They left behind unjustifiable fiscal deficits. Corruption has practically become state policy. We are saying enough to ideologies that can no longer put food on the table."
"We reject a system that does not respect employment, production, growth, and private property."
Paz took direct aim at former Movement for Socialism (MAS) party leadership during his speech, demanding accountability for unfulfilled promises.
"In the presence of international witnesses, the armed forces and the police, I want to ask, where is the gas? Where is the sea of gas you promised? Evo where is the lithium? Arce, where is the gas?" he asked rhetorically of former presidents Evo Morales and Luis Arce.
High-level delegations from Argentina, Chile, Ecuador, Paraguay, Uruguay, Peru, Brazil, Panama, El Salvador, Costa Rica, and US Deputy Secretary of State Christopher Landau witnessed the historic transition.
The son of former Bolivian President Jaime Paz Zamora, Paz inherits leadership during what analysts consider one of Bolivia's worst economic crises in four decades.
His October 19 electoral victory—securing 54.53% of votes as the Christian Democratic Party candidate—terminated the MAS party's two-decade grip on power, ending an era that defined left-wing governance throughout Bolivia and broader Latin America.
The center-right victor of the October 19 runoff election received the presidential sash in a formal inauguration at Congress in La Paz, the country's administrative capital, launching his five-year term that extends through 2030.
In his inaugural address, Paz painted a grim picture of Bolivia's fiscal state, asserting that outgoing administrations abandoned an economy "in collapse, trapped in inflation and debt."
"We inherited a destroyed country," he said. "They left us with a collapsed economy, the lowest international reserves in 30 years, inflation, shortages, debt, and insecurity."
The new president didn't mince words about the scale of the challenge ahead, declaring: "They left behind unjustifiable fiscal deficits. Corruption has practically become state policy. We are saying enough to ideologies that can no longer put food on the table."
"We reject a system that does not respect employment, production, growth, and private property."
Paz took direct aim at former Movement for Socialism (MAS) party leadership during his speech, demanding accountability for unfulfilled promises.
"In the presence of international witnesses, the armed forces and the police, I want to ask, where is the gas? Where is the sea of gas you promised? Evo where is the lithium? Arce, where is the gas?" he asked rhetorically of former presidents Evo Morales and Luis Arce.
High-level delegations from Argentina, Chile, Ecuador, Paraguay, Uruguay, Peru, Brazil, Panama, El Salvador, Costa Rica, and US Deputy Secretary of State Christopher Landau witnessed the historic transition.
The son of former Bolivian President Jaime Paz Zamora, Paz inherits leadership during what analysts consider one of Bolivia's worst economic crises in four decades.
His October 19 electoral victory—securing 54.53% of votes as the Christian Democratic Party candidate—terminated the MAS party's two-decade grip on power, ending an era that defined left-wing governance throughout Bolivia and broader Latin America.
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