Lima, November 8th News from La Paz: Bolivian President-elect Luis Arce was sworn in on the 8th in the administrative capital of La Paz for a term of 5 years.
Arce delivered an inaugural speech after being sworn in at the Bolivian National Assembly that day, expounding the new government’s governance program. He said that the raging global new crown epidemic and the mismanagement of the interim government have plunged the Bolivian economy into a severe recession. The biggest challenge for the new government is to promote economic recovery, increase employment opportunities, and improve people’s living standards.
In terms of diplomacy, Arce said that the new government will support multi-polarization of the world, and the Community of Latin American and Caribbean States is the best choice for peace and development in the region.
Arce pledged to establish an inclusive government and firmly believes that with the joint efforts of all parties, Bolivia will survive the current difficult moment. He also called on the people to unite and create peace and a better future when the country is facing a serious crisis.
King Felipe VI of Spain, President Fernandez of Argentina, President Duque of Colombia, President Benitez of Paraguay and other foreign dignitaries, government delegations and officials of some diplomatic agencies in Bolivia attended the inauguration ceremony on the day.
Arce, 57, was born in La Paz. Since January 2006, he has served as Minister of Finance and Economy in the three administrations of former Bolivian President Morales. In the presidential election held on October 18 this year, Arce, as a candidate for the “Movement for Socialism”, defeated his opponent with 55.1% of the votes and was elected as the new President of Bolivia.
General elections in Bolivia are held every 5 years. In November 2019, the then President Morales was forced to resign due to a crisis of election fraud. The then second deputy speaker of the Senate, Agnès, announced his appointment as interim president, and the interim government subsequently decided to re-elect.