Bolivia’s Paz taps deputy to lead economy after minister’s ousting

Bolivian President Rodrigo Paz has appointed Christian Morales as the new economy and public finance minister, just days after his predecessor, Jose Gabriel Espinoza, was censured and removed from his position. The leadership change is seen as a move to maintain policy continuity and address Bolivia's economic challenges, which include falling natural gas output, low foreign-currency reserves, fuel shortages, and a shortage of U.S. dollars.

In Morales' swearing-in ceremony, Paz emphasized that he had taken office with direct knowledge of the government's economic strategy and the negotiations with lenders. He stated that Bolivia is engaged in several talks with multilateral institutions to secure commitments of $7 to $10 billion. Paz also avoided directly criticizing lawmakers for ousting Espinoza, but defended his former minister and implied that political actors may be trying to obstruct the government's economic agenda.

He urged Congress to quickly pass an investment bill, which he believes is crucial for unlocking domestic and foreign investment by providing clearer rules and greater legal certainty.

Morales pledged to continue the administration's existing policies, focusing on preserving stability, strengthening public finances, generating investment and employment opportunities, and restoring confidence in Bolivia's economy.