In this post, first published in The Conversation, Enrique Castañón Ballivián, Lecturer in International Development at the UCL Institute of the Americas, discusses the natural resources policies of the newly elected administration of Rodrigo Paz Pereira in Bolivia.

Bolivia’s ‘Capitalism for All’ Project Sparks Backlash for Selling-out on Natural Resources

Enrique Castañón Ballivián

Bolivia’s political landscape has changed dramatically since August 2025, when a general election ended the Movement for Socialism (Mas) party’s rule after nearly two decades. Its presence in Congress has all but vanished, with rightwing parties now commanding an overwhelming majority.

The new president, Rodrigo Paz Pereira, campaigned with the rightwing populist slogan: fé, familia y patria (faith, family and homeland). He swept to victory in large part due to the widespread popularity of his running mate and now vice-president, Edmand Lara.

As the son of former Bolivian president Jaime Paz Zamora, who led Bolivia from 1989 to 1993, Paz Pereira represents a new generation of the country’s traditional political elite. But Lara, a former police captain who has become prominent on social media since 2023, comes from the popular classes.

The unlikely pair benefited from a strong desire among the Bolivian people for change amid a severe economic crisis marked by a shortage of US dollars and annual inflation of nearly 20%. They also took advantage of widespread distrust of reticence towards politicians from previous governments. (more…)