Bolivia held presidential and congressional elections on August 17, 2025, marking a potential end to nearly 20 years of socialist rule by the Movement for Socialism (MAS) party, led by former President Evo Morales and current President Luis Arce. Approximately eight million voters participated to elect a new president, vice president, 130 deputies, 36 senators, and nine supra-state representatives. The election took place amid a severe economic crisis characterized by inflation, shortages, and social unrest. The Supreme Electoral Tribunal confirmed a peaceful and orderly voting process with no major incidents, despite an explosion near a polling station in Cochabamba where leftist candidate Andrónico Rodríguez was about to vote. Morales, barred from running, encouraged voters to cast null ballots as a protest, resulting in a historic 19.2% null vote share. Early results showed a decisive defeat for MAS, which saw its vote share collapse from 55% in 2020 to around 10%, losing all Senate seats. Centrist Senator Rodrigo Paz Pereira of the Christian Democratic Party led the first round with approximately 31.6% to 32.8% of the vote, followed by right-wing candidate Jorge "Tuto" Quiroga, a former interim president, who secured a place in the runoff scheduled for October 19, 2025. Samuel Doria Medina, another right-leaning candidate, finished third and later endorsed one of the front-runners. The election reflects a political shift toward the right and center-right, with expectations of warmer relations with Washington. Analysts attribute the left's collapse to internal divisions and economic mismanagement. The election results have triggered a rally in Bolivian fixed income, with the country’s risk premium dropping by 318 basis points. Both President Arce and Morales acknowledged the election outcome, with Arce emphasizing the democratic process and Morales recognizing the results despite his earlier call for null voting. The runoff will determine Bolivia's next president, ending two decades of socialist dominance.