Inauguration marks the end of a 20-year cycle of socialist governments in the context of the country’s worst economic crisis in four decades
The center-right This Saturday (8) he assumed the presidency of the which marks the end of a 20-year cycle of socialist governments in the context of the country’s worst economic crisis in four decades. The new president, 58 years old, son of former president Jaime Paz (1989-1993), was received with applause at the Bolivian legislative palace, in the center of by deputies and international delegations.
Torrential rain in the heart of the city marked the official events. The Government Palace and Parliament area remained under heavy police protection. “God, family and country: Yes, I swear!”, declared the new president. The oath was taken by its vice-president Edmand Lara, a former police officer.
Paz, after winning the October elections with the Christian Democratic Party, receives a country in serious economic crisis due to the scarcity of dollars and fuel. Luis Arce’s government has exhausted almost all of its foreign exchange reserves to support a policy of universal subsidies for gasoline and diesel.
Annual inflation through October was 19%, after peaking at 25% in July. Paz promised to cut more than half of fuel subsidies and a “capitalism for all” program that focuses on formalizing the economy, eliminating bureaucratic obstacles and reducing taxes.
More than 50 international delegations arrived at the Bolivian government headquarters, 3,600 meters above sea level. Among the main participants are North American Vice Chancellor Christopher Landau and the presidents , Yamandú Orsi (Uruguay), among others.
*With information from AFP
