A new direction for Bolivia: leading VP candidates set out agendas to Global South World

Scroll down for the views of vice presidential candidates Juan Pablo Velasco and José Luis Lupo speaking to Global South World on

• The role of the IMF
• How Bolivia can create new jobs
• Setting a template for democracy

In the sticky heat of Bolivia’s lowlands, or the thin, icy air of its mountain cities, the view has been the same for much of 2025: endless lines of cars curling around blocks on the worst days of fuel shortages. On top of that, the black-market dollar has been playing its own game — at one point worth almost twice the official rate set by the central bank, and still stubbornly high. As a result, prices keep climbing, household budgets are under pressure, and frustration hangs in the air. These are the rhythms of a country in economic distress.

Now, Bolivia heads into a presidential election unlike any in the past two decades — shaped by deep economic troubles and, for the first time in more than 20 years, led in the polls by economically liberal candidates.

Preliminary surveys point to two contenders at the top: Jorge “Tuto” Quiroga and Samuel Doria Medina. This marks a dramatic shift from the socialist tradition that, over the past four electoral cycles, brought to power leaders aligned with the “pink tide,” such as Evo Morales Ayma and Luis Arce.

Two decades of apparent economic stability have left behind few long-term plans. Today, the country faces the consequences: dwindling gas revenues, no new sources of foreign currency, and an overfocus on unexploited revenues from lithium, a resource all candidates mention but whose global price has fallen, while Bolivia’s industrial capacity remains minimal.

With the two frontrunners separated by a narrow margin, analysts believe the race will almost certainly go to a second round. Global South World spoke with the vice-presidential candidates from both leading tickets to understand how they plan to steer Bolivia out of crisis.

LIBRE: Radical change and a digital push

On one side of the ballot, Juan Pablo Velasco joins former president Jorge “Tuto” Quiroga as the vice-presidential nominee of the Libertad y Democracia Alliance (LIBRE). Their central promise: radical change. Quiroga was elected vice president in 1997 under the democratic government of former dictator Hugo Banzer Suárez, later assuming the presidency when Banzer resigned due to illness. 

Velasco, best known for leading a UBER ride-hailing like app in Bolivia, embodies LIBRE’s appeal to younger voters and the private sector. Yet his lack of public-sector experience has drawn skepticism about his readiness for high office. “We need to change our relationship with the state; it must stop being an analogue relationship, with queues and corruption and queues just to get a medical appointment. We will solve everything, bring change, and together we will achieve a free Bolivia.”

If elected, Velasco says the administration would liberalise exports, prioritising agribusiness and the agro-industrial sector — industries he believes could quickly generate revenue. He stops short of detailing how the sector’s environmental footprint, particularly its role in 2024’s record-breaking wildfires, would be addressed. For example, he states: "We need to crack down and enforce strict controls on forest burning. Last year, 12 million hectares went up in flames (...) We have no park rangers, no ranger infrastructure, nothing. (...). How do we solve this? With control." He has also expressed interest in tapping into carbon credits, without elaborating on how such a scheme would work or on the shortcomings of that industry, even in Bolivia.

For Velasco, economic stabilisation is the first order of business in the transition. He insists Bolivia must rebuild ties with multilateral lenders: “Right now, we have no active agreements with the CAF – Development Bank of Latin America, FONPLATA, or the IMF - International Monetary Fund. That has to change.”

Drawing on his tech background, Velasco envisions a “Digital Bolivia” that would promote entrepreneurship and technology exports. “We have an incredible number of developers. Thanks to the pandemic, remote work has expanded, and our best developers would rather work as call center agents for a startup in Singapore than develop technology products here—because they lack the right conditions” he says.

When asked about democracy, Velasco emphasizes that for Quiroga, it is the top priority. He expresses confidence in his running mate’s leadership in this subject. In the last year, Quiroga has had an active role in denouncing the authoritarian rulers of Venezuela and Nicaragua. 

Unidad Alliance: Radical center and free-market approach 

In the other leading campaign, Samuel Doria Medina has chosen economist, seasoned state official, and former international development executive José Luis Lupo as his running mate — a pairing the Unidad alliance hopes will convey both experience and economic credibility.

Doria Medina defines their stance as radical center, yet his campaign trail has included photos with right-wing leaders like El Salvador’s Nayib Bukele and Peru’s Keiko Fujimori.

Doria Medina is one of Bolivia’s most recognisable political figures. He is also an accomplished businessman: in 2014, he sold his controlling stake in cement giant SOBOCE for around $300 million, later expanding into real estate, hospitality, and fast-food franchises. More recently, he has leveraged TikTok to soften his image with humour. He has also received the endorsement of US-based Bolivian billionaire Marcelo Claure.

Lupo’s arrival on the ticket is intended to reinforce the campaign’s economic credentials. With senior roles at the Inter-American Development Bank (IDB) — overseeing operations in Argentina, Brazil, and Colombia — and at the CAF – Development Bank of Latin America, he brings decades of experience. He has also served in ministerial posts in Bolivia on five different occasions. During the campaign, he has avoided missteps in interviews and is known for his precise language.

“This is the most crucial election of Bolivia’s democratic era,” Lupo says. His economic blueprint starts with a $5 billion stabilisation fund to unify the exchange rate, curb inflation, guarantee access to dollars, and secure fuel supplies while a new energy policy is rolled out. The program also calls for strengthening legal certainty to attract investment, reforming mining, hydrocarbons, tax, and lithium laws, and passing a new innovation and technology law.

“We will need shock actions,” he acknowledges, “but with protections so the most vulnerable do not bear the cost.”

Lupo promises that within the first 100 days, a Doria Medina government would secure the independence of the central bank, push judicial reform, and present state restructuring laws aligned with an open-market, pro-business framework that also recognises Bolivia’s diversity and plurality.

For Lupo, the stakes extend beyond Bolivia’s borders: “This election marks a regional shift away from populism.

He closes with a message of optimism: “Bolivia is not a failed state. It is viable — with a strong demographic bonus in its youth and its women”,  adding that they want a country  “where young people aren’t constantly looking to the airport as their way out.”

Whether Bolivians choose LIBRE or Unidad, August’s election will mark the first time in a generation that the nation’s political compass appears to be pulling away from the left. When the last ballot is counted, the question will be whether Bolivia awakens to a new political era — and whether that brings stability. However, one thing seems certain: the new Legislative Assembly in Bolivia will be dominated by two economically liberal blocs. Radically changing the past recent history of Bolivia. 

Additional info: 

For this piece, the Global South World team also reached out to Mariana Prado, vice-presidential candidate alongside Andrónico Rodríguez for Alianza Popular and former Minister of Development Planning under Evo Morales. The interview request went unanswered. After the two leading presidential contenders, their ticket had been polling in third place; however, the latest results show they have fallen behind, as support for null votes and undecided voters has grown. Their campaign is the one most closely aligned with left-leaning ideas.

MAS: On the outside looking in

Meanwhile, the Movement for Socialism (MAS) — which carried Morales to power and governed for nearly two decades — is polling at the bottom. Its candidate, former government minister Eduardo del Castillo, faces steep odds.

Morales, barred from running by the Constitutional Court’s two-term limit, is urging voters to submit null ballots, claiming them as symbolic support. He has even opened campaign offices dedicated to the effort.