Rodrigo Paz Pereira assumed Bolivia’s presidency in November 2025 following his runoff victory and has faced sustained domestic pressure throughout 2026. Prolonged road blockades tied to fuel subsidy cuts, inflation, and supply shortages prompted a 90-day national state of emergency in June, military clearance operations, and ministerial resignations amid explicit calls for his departure. Regional election setbacks in April further weakened his coalition’s position. Institutional actors, including the electoral tribunal, have described resignation demands as antidemocratic and emphasized that popular mandates run their full term absent a properly triggered recall referendum. Paz continues to exercise executive authority, issuing decrees on austerity, tax relief, and public enterprise restructuring while pursuing bilateral agreements, most recently with Chile in mid-October. These dynamics frame trader assessments of any near-term exit scenario.