Bolivia Roundup: Election race, Indigenous politics shift, stadium violence

Bolivia’s bonds surge ahead of election

Bolivia’s international bonds have rallied strongly ahead of the August 17 presidential election, gaining over 30% since the start of 2025 and outperforming the 7% return in JPMorgan’s emerging markets bond index. Investor optimism is driven by hopes that a political shift could pave the way for economic reforms and an IMF program, amid the country’s worst economic crisis in four decades, with soaring inflation, dwindling reserves, and tough fiscal trade-offs.

Election front-runners signal political change

Right-wing candidate Jorge Quiroga, a former president, said on August 8 that Bolivia was set for “radical change” after 20 years of socialist rule. He trails centre-right business magnate Samuel Doria Medina in first-round polls, while the ruling Movement towards Socialism (MAS) — founded by former president Evo Morales — faces record-low support over its crisis management.

Indigenous support for MAS erodes

The MAS party is experiencing a sharp decline in backing from its traditional Aymara and Quechua base, as economic hardship and unmet social promises overshadow identity politics. Influencers and community voices say priorities have shifted toward jobs, education, and healthcare. Morales, elected in 2006 as Bolivia’s first Indigenous president, once symbolised empowerment, but corruption allegations and internal rifts have eroded that legacy.

Violence mars football match in La Paz

A 3-2 victory for The Strongest over Blooming at Hernando Siles Stadium was overshadowed by a serious incident involving supporters, who threw fireworks onto the pitch. Paraguayan forward Juan Godoy was struck, sustaining a first-degree burn and a testicular hematoma, prompting medical attention and ongoing monitoring.

Business leader calls for openness

Bolivian entrepreneur Marcelo Claure, Group Vice Chairman of Shein, urged renewed openness to global markets and greater economic opportunity ahead of the election. Claure expressed optimism that effective governance could unlock the country’s economic potential.