Bolivia Rejects Socialism, Opens Economy After Reserves Rebound to $1.2 Billion
Updated
Updated · Fox News · Sep 26
Bolivia Rejects Socialism, Opens Economy After Reserves Rebound to $1.2 Billion
3 articles · Updated · Fox News · Sep 26
Summary
Rodrigo Paz said Bolivia is abandoning nearly two decades of socialist rule and opening its economy to private investment, entrepreneurship and closer ties with the United States.
$51 million in central bank reserves when Paz took office has risen to nearly $1.2 billion in 10 months, which his government cites as evidence it is rebuilding confidence despite high inflation and fuel shortages.
Paz said Bolivia wants foreign investors in lithium, copper, tin, gas and agriculture, but only through long-term partnerships that add jobs, training, technology and manufacturing inside Bolivia.
Talks in New York with Secretary of State Marco Rubio signaled a broader reset with Washington as Paz aligns Bolivia with the Trump administration's renewed Western Hemisphere focus on security, investment and democratic governance.
As Bolivia pivots to Washington for a massive IMF lifeline, will its ambitious lithium partnerships trigger a new wave of local uprisings?
With a contracting economy and massive social unrest in 2026, can Bolivia's new government actually deliver on its capitalism for everyone promise?
Can President Paz's fragile minority government survive the harsh subsidy cuts required to unlock billions in foreign investment before the 2027 recovery?