Bolivian voters headed to the polls yesterday amidst a profound economic crisis that has seen the decline of the left, as the right eagerly anticipates its chance to regain power for the first time in two decades.
The Andean nation is experiencing its most severe economic turmoil in a generation, reflected by an annual inflation rate nearing 25% and a critical shortage of dollars and fuel.
Polling indicates that voters are inclined to penalize the Movement for Socialism (MAS), which has governed since 2005 when Evo Morales became the first indigenous president.
Leading candidates for the presidency include centrist-right businessman Samuel Doria Medina and former right-wing president Jorge “Tuto” Quiroga, both of whom are vying to succeed current president Luis Arce, who is not seeking reelection.
Polls show Doria Medina (66) and Quiroga (65) in a close race at around 20%, followed by six other candidates, including leftist Senate President Andrónico Rodríguez. A runoff is set for October 19 if no candidate secures an absolute majority.
The two frontrunners have pledged to implement fundamental changes to the current economic model, which heavily involves state participation. Their plans include reducing public spending, welcoming foreign investment, and strengthening ties with the United States, which have waned under Morales’s anti-capitalist and anti-imperialist stance.
Analysts draw parallels between this election and Argentina’s 2023 vote, in which citizens ousted the long-dominant Peronist party in favor of libertarian candidate Javier Milei, seeking to end a deep-seated crisis.
According to Daniela Osorio Michel, a political science expert at the German Institute of Global and Area Studies, “What people are looking for now, beyond a shift from left to right, is a return to stability.”