Centrist Senator Rodrigo Paz captured roughly 32 percent of the vote in Bolivia’s 17 August presidential election, while conservative former president Jorge “Tuto” Quiroga followed with about 27 percent, the Supreme Electoral Tribunal said after counting more than 90 percent of ballots. Because neither contender met the threshold for an outright victory, the two will face an unprecedented runoff on 19 October. The result ends two decades of dominance by the left-wing Movement for Socialism. The ruling party’s official nominee, Interior Minister Eduardo del Castillo, secured just over 3 percent, and Senate leader Andrónico Rodríguez obtained less than 9 percent. Businessman Samuel Doria Medina finished third at close to 20 percent and immediately endorsed Paz. Null and blank ballots, promoted by former president Evo Morales, approached one-fifth of all votes. Election day was largely peaceful, according to domestic authorities and international observers, although Rodríguez was pelted with stones after voting in Cochabamba. President Luis Arce said the turnout, which exceeded 80 percent, proved that “democracy has triumphed” despite fuel shortages and inflation running near 25 percent, the highest in four decades. Financial markets welcomed the shift toward pro-business candidates. Bloomberg data show the country’s sovereign risk premium narrowing 318 basis points to 1,207 on the first trading day after the ballot, while the 2028 bond rose above US$83. Investors are betting that either Paz’s “capitalism for all” agenda or Quiroga’s austerity-focused programme will steer Bolivia away from the state-led model introduced in 2006. Whoever prevails in October will take office on 8 November for a five-year term and confront an economy strained by dollar shortages, ballooning subsidies and stagnant growth. Both candidates vow to trim fuel subsidies and encourage private investment, though they diverge on whether to seek International Monetary Fund support. Formal campaigning for the runoff begins next week.