Bolivia’s presidential candidate Jorge “Tuto” Quiroga has promised major economic reforms, including giving citizens direct ownership stakes in the country’s natural resources, if elected in October.
According to Reuters, the move represents a striking departure from over two decades of state management and emphasises his pro-market attitude as he prepares for a decisive runoff.
Conservative contender emerges
Quiroga, 65, cemented his position as the leading conservative candidate by finishing second in the Aug. 17 general election, garnering around 28% of the vote in a crowded field of eight. He will face Senator Rodrigo Paz, a centrist, in a runoff on October 19.
His Freedom Alliance group, which leans pro-market and conservative, is already formulating constitutional revisions and forming congressional coalitions to speed up legislation.
Preliminary results indicate that the coalition, along with Paz’s Christian Democrat party, will hold 82 of the 130 Lower House seats, meeting the two-thirds level required to approve major legislation.
“This is a watershed moment,” Quiroga told Reuters in his first interview with foreign media since securing his place in the second round. Speaking from his residence in La Paz, he stated that his plans seek to restructure the economic model.
Plan for lithium and gas ownership
At the heart of Quiroga’s platform is a plan to give ordinary Bolivians ownership rights to natural resources via a mutual fund. The program would address hydrocarbons, mining, natural gas, and lithium, a metal required for electric vehicle batteries.
“The lithium will belong to each citizen,” Quiroga stated. “Not to the state, not to my government, but to individuals as shareholders.”
Bolivia has some of the world’s greatest lithium and natural gas reserves, but output has declined under state-led administration.
Gas exports, which were once the backbone of the economy, have been cut in half over the last decade as production has stagnated.
Meanwhile, high government spending and growing inflation have stretched the country’s hard currency reserves.
Reform agenda and political landscape
Quiroga’s platform advocates for significant reforms in hydrocarbon policy, taxation, and mining, as well as a restructuring of ownership rights. He describes the strategy as a way to decentralise wealth and allow citizens a direct say in resource management.
Critics believe that the idea risks alienating Bolivia’s indigenous majority, which has always been wary of conservative candidates.
Quiroga has run for president multiple times but has never made it to the runoff until now. Former President Evo Morales defeated him twice, and his leftist ideas dominated Bolivia’s political and economic scene for nearly two decades.
“This second round is an opportunity for Bolivians to judge who has the capacity, credibility, and strength to deliver the dramatic change Bolivia needs,” Quiroga told reporters.
Pragmatism on US relations
Quiroga’s speech includes a shift in foreign policy. He indicated a willingness to mend relations with Washington, which have remained tight as Bolivia has strengthened relationships with China, Iran, and Russia in recent years.
“I will not have ideological lineups of any kind,” he declared, explaining his pragmatic approach to diplomacy. While Quiroga expressed support for a prospective free trade agreement with the United States, he noted that such a deal could be out of reach under the Trump administration.
The prospect of deeper ties with Washington might mark a significant strategic shift for Bolivia, whose commercial and investment links have traditionally been oriented toward non-Western allies.
Confronting Morales legacy
Quiroga also stated that he would take legal action against Morales, who faces claims of child abuse and terrorism, which he denies are politically driven.
“He faces genuine charges. “With me, the rule of law applies,” Quiroga stated.
For voters, the runoff offers a stark option between Paz’s centrist Christian Democratic platform and Quiroga’s market-oriented policies.
With both groups expected to possess a parliamentary supermajority, the decision could send Bolivia on a very divergent economic path.
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