Bolivia Chooses Between Two Right-Wing Figures Amid Economic Crisis

Bolivia is on the cusp of choosing a new president on Sunday, marking the end of two decades of socialist rule under the Movement Toward Socialism (MAS) party. The country is grappling with its worst economic crisis in four decades, characterized by severe shortages of fuel and foreign currency. Voters have rejected the MAS party, founded by former president Evo Morales, in a first electoral round in August. On Sunday, they will elect either Senator Rodrigo Paz or former president Jorge Quiroga, both of whom have promised to bring about change.

Key Takeaways:

• Bolivia is facing its worst economic crisis in four decades, with annual inflation nearing 25% and long queues at gas stations and stores carrying subsidised goods.
• The country has depleted its dollar reserves to sustain a universal fuel subsidy policy, and oil production has plummeted under the current government.
• The two presidential candidates, Paz and Quiroga, have proposed different economic solutions, with Quiroga promising a $12 billion injection in the economy through international loans and Paz advocating for balancing the budget before taking on more loans.
• Both candidates have proposed maintaining fuel subsidies for public transportation and vulnerable economic sectors, as well as maintaining social programs.
• The country's external debt is almost a third of GDP, and its old-age pension is just over $100 per month.
• Voters have expressed skepticism about the candidates' promises, with one voter saying that she didn't trust either of them and that they couldn't deliver on their promises.

Statistics:

• 11.3 million people: Bolivia's population
• 25%: Annual inflation rate nearing
• $100: Bolivia's old-age pension per month
• $12 billion: Quiroga's proposed injection in the economy through international loans
• 44.9%: Quiroga's share of stated voter intention (according to Ipsos-Ciesmori survey)
• 36.5%: Paz's share of stated voter intention (according to Ipsos-Ciesmori survey)
• 65 years: Quiroga's age
• 58 years: Paz's age
• 2020: Year Arce started his presidential term
• November 8: Date Arce leaves office

Sources:

• "Bolivia will choose between two right-wing figures in presidential elections on Sunday, ending two decades of socialist rule that has left the beleaguered South American nation deep in the red." (AFP)
• "With insufficient investment in the sector, oil production under Morales ally-turned-rival Luis Arce plummeted and Bolivia almost depleted its dollar reserves to sustain a universal fuel subsidy policy." (AFP)
• "A former vice president under Hugo Banzer, Quiroga served a brief stint as president in 2001 and 2002 when the incumbent fell ill." (AFP)
• "Quiroga, a US-trained engineer who leads the centre-right Freedom and Democracy (Libre) Alliance, has proposed a $12 billion (about R210bn) injection in the economy with international loans, and to bolster foreign investment." (AFP)
• "Bolivia's external debt is almost a third of GDP." (AFP)