It’s Election Day again in Bolivia as the country votes in its first ever presidential election runoff.
Bolivia is facing a deep economic crisis with inflation remaining around 25%, a depleted foreign currency reserve, and critical fuel shortages. This dissatisfaction prompted voters to end almost 20 years of left-wing Socialist rule.
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The two candidates who advanced are rightwing former president Jorge “Tuto” Quiroga and center-right senator and economist Rodrigo Paz Pereira. While recent polls have given Quiroga a narrow lead, Paz Pereira has defied the polls before, winning 32% of the vote in the first round when the polls only showed him with 8% support.
As traders remain split on who will ultimately emerge victorious, one thing is clear: this election will likely bring a complete change of policy and jolt Bolivia to the right.
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