A voter casts her ballot at a polling station in La Paz, Bolivia, Oct. 19, 2025. Rodrigo Paz Pereira, 58, won the presidential runoff election in Bolivia on Sunday, according to the quick count of the Preliminary Results System of the Supreme Electoral Tribunal (TSE). (Xinhua/He Bing)

LA PAZ, Oct. 19 (Xinhua) -- Rodrigo Paz Pereira, 58, won the presidential runoff election in Bolivia on Sunday, according to the quick count of the Preliminary Results System of the Supreme Electoral Tribunal (TSE).

His victory marks the end of two decades of left-wing rule and the beginning of a new political stage in the South American country.

Paz managed to win 54.53 percent of the votes, 9 percentage points higher than former president Jorge "Tuto" Quiroga who obtained 45.44 percent of the votes.

Paz will assume office on Nov. 8 for a five-year term from 2025 to 2030.

The newly elected president will have to face a weakened economy, marked by fuel shortages, fiscal deficits and a prolonged lack of foreign exchange caused by declining international reserves. ■

People queue to cast their ballots in La Paz, Bolivia, Oct. 19, 2025. Rodrigo Paz Pereira, 58, won the presidential runoff election in Bolivia on Sunday, according to the quick count of the Preliminary Results System of the Supreme Electoral Tribunal (TSE). (Xinhua/He Bing)

Former Bolivian President Jorge "Tuto" Quiroga is pictured at a polling station in La Paz, Bolivia, Oct. 19, 2025. Rodrigo Paz Pereira, 58, won the presidential runoff election in Bolivia on Sunday, according to the quick count of the Preliminary Results System of the Supreme Electoral Tribunal (TSE). (Photo by Javier Mamani/Xinhua)

(251020) -- TARIJA, Oct. 20, 2025 (Xinhua) -- Rodrigo Paz Pereira shows his ballot at a polling station in Tarija, Bolivia, Oct. 19, 2025. Rodrigo Paz Pereira, 58, won the presidential runoff election in Bolivia on Sunday, according to the quick count of the Preliminary Results System of the Supreme Electoral Tribunal (TSE). (Photo by Reynaldo Vargas/Xinhua)

(251020) -- TARIJA, Oct. 20, 2025 (Xinhua) -- Rodrigo Paz Pereira shows his ballot at a polling station in Tarija, Bolivia, Oct. 19, 2025. Rodrigo Paz Pereira, 58, won the presidential runoff election in Bolivia on Sunday, according to the quick count of the Preliminary Results System of the Supreme Electoral Tribunal (TSE). (Photo by Reynaldo Vargas/Xinhua)

A voter casts a ballot at a polling station in La Paz, Bolivia, Oct. 19, 2025. Rodrigo Paz Pereira, 58, won the presidential runoff election in Bolivia on Sunday, according to the quick count of the Preliminary Results System of the Supreme Electoral Tribunal (TSE). (Photo by Javier Mamani/Xinhua)

Bolivian President Luis Arce casts his ballot at a polling station in La Paz, Bolivia, Oct. 19, 2025. Rodrigo Paz Pereira, 58, won the presidential runoff election in Bolivia on Sunday, according to the quick count of the Preliminary Results System of the Supreme Electoral Tribunal (TSE). (Photo by Javier Mamani/Xinhua)

(251020) -- TARIJA, Oct. 20, 2025 (Xinhua) -- Rodrigo Paz Pereira shows his ballot at a polling station in Tarija, Bolivia, Oct. 19, 2025. Rodrigo Paz Pereira, 58, won the presidential runoff election in Bolivia on Sunday, according to the quick count of the Preliminary Results System of the Supreme Electoral Tribunal (TSE). (Photo by Reynaldo Vargas/Xinhua)

(251020) -- TARIJA, Oct. 20, 2025 (Xinhua) -- Rodrigo Paz Pereira casts his ballot at a polling station in Tarija, Bolivia, Oct. 19, 2025. Rodrigo Paz Pereira, 58, won the presidential runoff election in Bolivia on Sunday, according to the quick count of the Preliminary Results System of the Supreme Electoral Tribunal (TSE). (Photo by Reynaldo Vargas/Xinhua)