Bolivia's President appoints deputy as new economy minister amid crisis

Bolivian President Rodrigo Paz announced on Tuesday that Christian Morales would replace Jose Gabriel Espinoza as minister of economy and public finance. Morales, who had served as Espinoza's deputy, assumes the post after lawmakers censured and dismissed the former minister last week. The change occurs while Bolivia confronts falling natural-gas output, dwindling foreign-currency reserves, fuel shortages and a scarcity of U.S. dollars.

In the swearing-in ceremony, Paz said the new minister is already familiar with the government's economic strategy and ongoing negotiations with multilateral institutions seeking $7 billion to $10 billion in commitments. He refrained from directly criticizing the legislators but suggested political forces were hindering the agenda and called for swift approval of an investment bill to attract domestic and foreign capital. Morales affirmed his intent to preserve stability, strengthen public finances, and foster conditions for production, employment and renewed confidence in the economy.