Paz sworn in as Bolivia’s president, promises ‘capitalism for all’
Summary
Rodrigo Paz has become the new president of Bolivia, ending nearly 20 years of governance by the Movement for Socialism party. Paz, who supports business-friendly policies, has promised economic reforms and to strengthen Bolivia's ties with other countries, including the United States.Key Facts
- Rodrigo Paz was sworn in as the new president of Bolivia.
- He succeeded the Movement for Socialism party, which led Bolivia for almost two decades.
- Paz is 58 years old and is the son of a former president.
- He plans to introduce a "capitalism for all" economic policy with lower taxes and fiscal discipline.
- Bolivia is facing its worst economic crisis in 40 years with high inflation and fuel shortages.
- The country’s reserves were depleted by prior government subsidies for petrol and diesel.
- Paz aims to restore and improve Bolivia's international relations, including reopening ties with the United States.
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