Bolivia's first non-leftist leader in 20 years raises resources hopes in Greenland of South America

Rodrigo Paz might use untapped natural resources to offset crippling economic crisis

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Salar de Uyuni, in the Andes in southwest Bolivia, is the world’s largest salt flat. Photo: Wikimedia.

(Michael Molinski is a senior economist at Trendline Economics. He’s worked for Fidelity, Charles Schwab and Wells Fargo, and previously as a foreign correspondent and editor for Bloomberg News and MarketWatch.)

LA PAZ, Bolivia (Callaway Climate Insights) — Centrist Rodrigo Paz won Bolivia’s presidential runoff Oct. 19, defeating right-wing rival Jorge “Tuto” Quiroga and ending nearly two decades of left-wing rule by the Movement Toward Socialism (MAS) party.

Already, people are wondering who exactly Paz is, and how he plans to govern a country that faces a crippling economic crisis, fuel and dollar shortages, and annual inflation that soared 23% last month, the highest since 1991.

And perhaps more importantly, governments, environmentalists and private industries are wondering if there is an opportunity now to access Bolivia’s gigantic, untapped natural resources.