Bolivian President Rodrigo Paz Appoints Christian Morales as Economy Minister

President Rodrigo Paz appointed Christian Morales as the new economy and public finance minister on Tuesday. Morales, who previously served as a deputy minister, replaces Jose Gabriel Espinoza after lawmakers censured and removed Espinoza from office last week.

The leadership change comes as Bolivia struggles with a severe economic crisis marked by low foreign-currency reserves, falling natural gas output, fuel shortages, and a scarcity of U.S. dollars. Paz stated that Morales has direct knowledge of the government's economic strategy and current efforts to secure between $7 billion and $10 billion in financing from multilateral institutions.

Paz urged Congress to pass a pending investment bill to establish legal certainty for domestic and foreign investors. Morales pledged to preserve stability, strengthen public finances, and create conditions for investment and employment to recover confidence in the national economy.