Rodrigo Paz assumed Bolivia’s presidency in November 2025 after defeating a rival in the runoff and ending two decades of Movement for Socialism dominance. His administration has pursued austerity, fuel-subsidy cuts, and spending reductions to address inherited fiscal imbalances, triggering sustained protests, road blockades, and shortages that escalated sharply from late April onward. Demonstrators have demanded subsidy reversals, labor reforms, and his resignation; at least ten deaths and hundreds of arrests have occurred amid clashes. His alliance fared poorly in the March-April 2026 subnational elections, securing just two of nine governorships, while Vice President Edmand Lara has positioned himself in opposition. Paz responded with a 50 percent salary cut for himself and ministers and has received explicit U.S. diplomatic backing, yet the combination of economic strain and street mobilization continues to shape trader assessments of removal risks.