Bolivia’s Paz appoints new economy minister amid bailout talks

Bolivian President Rodrigo Paz has appointed a new economy minister to lead the country through an economic crisis and ongoing bailout talks. Christian Morales, an economist, replaces Jose Gabriel Espinoza, who was removed from office amid legal troubles. Morales will focus on securing a multibillion-dollar rescue package from international lenders, including the International Monetary Fund, the Inter-American Development Bank, and the Development Bank of Latin America and the Caribbean.

Paz, who took office in November, has been working to liberalize Bolivia's economy after two decades of socialist rule, aiming to attract foreign investment and end decades-old fuel subsidies. Inflation has been effectively controlled, falling from 21% to 5% year-on-year, but fuel shortages and stagnant growth persist. The appointment of Morales comes as Bolivia faces widespread protests over living conditions, which culminated in a revolt last year and led to a state of emergency being declared by President Paz in June.