Bolivia Right-Wing Presidential Hopeful Vows 'Radical Change'
BOLIVIA, AUG 8 – Quiroga promises austerity, shifts in alliances, and reforms to tackle Bolivia's highest inflation in 17 years, amid an economic crisis and investor optimism for IMF support.
- Right-Wing presidential candidate Jorge 'Tuto' Quiroga told AFP on Friday Bolivia was poised for 'radical change' after two decades of socialist rule and trails Samuel Doria Medina in polls for the upcoming election.
- Against a backdrop of dwindling dollar reserves and fiscal squeeze, Bolivia faced 25.8% inflation in July, its highest since 2008, forcing reserve use to defend the boliviano.
- Advocating deep spending cuts, Quiroga vowed to break alliances with Venezuela, Cuba and Nicaragua, and pledged to restore central bank autonomy and tackle a dollar shortage.
- International investors have driven Bolivian bonds' rally, which recently returned over 30%, surpassing JPMorgan's emerging markets index. Betting websites peg Medina's win probability at more than 50%.
- Later this year, avoiding an October 19, 2025 runoff requires more than 40% of the vote and a 10-point lead, with the economy 'likely to be quite positive for the economy', said Carlos de Sousa.
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Analysis-Investors betting voters in Bolivia will make a turn to the right
(Reuters) -Bolivia's international bonds have rallied ahead of a fiercely contested presidential election, fueled by investors' hopes that a political U-turn could help shore up the country's fragile economy and pave the way for an IMF program. Read full story
Bolivia right-wing presidential hopeful vows 'radical change'
One of the front-runners in Bolivia's upcoming presidential election, right-winger Jorge Quiroga, told AFP on Friday the country was poised for "radical change" after two decades of socialist rule marked in recent years by a severe economic crisis.
“We need prices to go down,” Pacesa Quispe asks Jorge “Tuto” Quiroga, a liberal who seeks to re-occupy the presidential chair in Bolivia with the promise that he will eradicate the crisis that grips the South American country.
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