Centrist Senator Rodrigo Paz has won Bolivia's presidential election with 54.5% of the vote, ending nearly 20 years of Movement Toward Socialism (MAS) rule amid a severe economic crisis.

His victory marks a shift towards a government focused on consensus, economic liberalization, and improving diplomatic relations, especially with the United States, signaling a potential regional realignment away from China and Russia.

Paz advocates for gradual reforms such as legalizing the black market and avoiding shock therapy, contrasting with his opponent Quiroga's push for immediate IMF rescue packages and austerity measures like cutting fuel subsidies.

Despite criticizing socialism, Paz's campaign showed contradictions, including ending meetings with Guevara slogans and engaging with far-right strategists, reflecting a complex political positioning.

He inherits an economy that suffered from underinvestment and declining natural gas production, and faces the challenge of stabilizing it through firm measures to address fuel shortages, dollar shortages, and rising costs.

The incoming government will need to navigate economic recovery, political reconciliation, and opposition challenges in a country with significant indigenous influence and recent turmoil.

Paz's platform emphasizes opening sectors to private investment, supporting small and medium businesses, and gradually eliminating fuel subsidies while maintaining social programs.

He has also committed to forming a government based on consensus to rebuild trust and improve diplomatic relations, especially with neighboring countries and the U.S.

His victory was supported by regional electoral gains, including securing six of nine departments, and he inherits a political landscape marked by tensions and protests from labor unions and Morales supporters.

Evo Morales, the former president and influential indigenous leader, remains a controversial figure, under arrest warrants and in hiding, but his supporters threaten mobilization if the new government fails to meet expectations.

Analysts warn that without immediate economic relief, social unrest could escalate, challenging Paz’s leadership in a society divided by political and social tensions.

The election results, considered largely irreversible, reflect a public desire for change, but also skepticism about the new government's ability to deliver reforms amid ongoing political instability.