Bolivia’s Collapse: From Boom to Bust, No Bread, No Fuel, No Dollars

Bolivia’s Crisis and the Election Turn

Bolivia’s voters face a stark choice as the presidential and parliamentary polls open on Sunday. The MAS ruling party, which has steered the country for 19 years, is being blamed for acute shortages of fuel, dollars and staple foods such as subsidized bread – a humble marraqueta that has come to symbolize the nation’s economic turmoil.

“Bread of the poor” now a scarce commodity

• Gas and wheat shortages – Lines at La Paz gas stations can stretch up to a kilometer. Farmers can no longer import wheat, and cooking oil and rice have become scarce.
• Subsidized bread runs out – Taxi driver Manuel Osinaga reports that he can only fill up at 11:00 a.m. after a 6:00 a.m. arrival. 39‑year‑old Wilson Paz has paid for unsubsidized bread to feed a family of seven.
• The state’s dollar crunch – The local boliviano has doubled in value against the dollar in less than a year, fuelling 24.8 % inflation – the highest since 2008.

Voters expect to punish MAS

Opinion polls show a decisive swing away from the left. 70‑year‑old socialist activist Carlos Tavera says the most viable opposition candidate would win his vote, even if it meant backing a right‑wing candidate:

“Anyone else would be better than this.”

In 2010s, under former president Evo Morales, Bolivia enjoyed the region’s fastest‑growing economy powered by a commodities boom. Falling gas output and underinvestment in exploration have driven the country from boom to bust. 2023 gas exports totaled $1.6 billion – a drop from $6.1 billion in 2013.

Election frontrunners promise change

• Samuel Doria Medina – Center‑right multimillionaire vows to end money‑printing and close loss‑making public companies.
• Jorge Quiroga – Hard‑right ex‑president pledges to cut fuel subsidies, close public firms, and restore 20 lost years of growth.
• Andrónico Rodríguez – Leading left‑wing candidate also promises austerity measures.

Quiroga told reporters that “Bolivians can expect radical change to regain the 20 lost years if elected.” Economist Napoleon Pacheco warned of a “period of blood, toil, and tears,” echoing Churchill’s call for austerity.

What the future holds

With the national poverty rate officially at 36‑37 %, the long‑term costs of inflation could push 44 % of Bolivians into poor status, according to the Jubileo Foundation. The next steps live in voters’ hands, who must decide whether to steer the country back to left‑leaning policies or to adopt a new path that could stabilize the economy and bring basic goods back into homes.