Rodrigo Paz assumed Bolivia’s presidency in November 2025 after defeating Jorge Quiroga in a runoff that ended two decades of Movement Toward Socialism dominance, inheriting a severe economic crisis marked by inflation, fuel shortages, and depleted reserves. Since late April 2026, sustained protests and road blockades—initially sparked by proposed land reforms and fueled by living-cost pressures—have escalated, with demonstrators explicitly demanding his resignation, resulting in deaths, arrests, and supply disruptions in La Paz. Paz has responded with salary cuts for officials, calls for dialogue, and steps toward declaring a state of emergency while facing cabinet departures, including the defense minister. U.S. diplomatic support continues amid the unrest. These dynamics, including any further escalation or institutional responses before scheduled dates, directly shape trader assessments of early exit probabilities.