US EditionBolivia 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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