Paz sworn in as Bolivia's president, promises capitalism for all'

"Rodrigo Paz has been sworn in as Bolivia's president, ushering in a new era for the South American nation after nearly 20 years of governance by the Movement for Socialism (MAS) party. Paz, the 58-year-old son of a former president, and a pro-business conservative, drew applause at the swearing-in ceremony on Saturday at the Bolivian seat of congress. list of 3 itemsend of list God, family and country: yes, I take the oath of office, said Paz, who won a run-off election last month."

"On the campaign trail, the Christian Democrat Paz promised a capitalism for all approach to economic reform, with decentralisation, lower taxes and fiscal discipline mixed with continued social spending. He also promised to maintain social programmes while stabilising the economy, but economists have said the two things are not possible at the same time. Paz has promised to restore ties with the United States. Never again an"

Rodrigo Paz has been sworn in as Bolivia's president, ending nearly 20 years of Movement for Socialism (MAS) governance. MAS prospered during the early-2000s commodities boom, but natural gas exports have sputtered and its statist model of generous subsidies and a fixed exchange rate has collapsed. The outgoing government exhausted almost all hard-currency reserves to prop up petrol and diesel subsidies. Bolivia faces year-on-year inflation above 20 percent and chronic shortages of fuel and dollars. Paz campaigned on a "capitalism for all" platform emphasizing decentralisation, lower taxes and fiscal discipline while pledging to maintain social programmes and restore ties with the United States, a combination economists say will be difficult to reconcile.

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