LA PAZ, Bolivia – Bolivia concluded its presidential election on August 17, with preliminary results indicating no candidate achieved the required majority to win outright, paving the way for a runoff vote in October. The election took place against a backdrop of severe economic challenges, including soaring inflation, and shortages of foreign currency and fuel, which have prompted a significant swing in voter sentiment.

According to a report from Reuters, various polls suggest that two right-wing candidates, businessman Samuel Doria Medina, 66, and former President Jorge "Tuto" Quiroga, 65, are the frontrunners. Both candidates have failed to secure more than 30% of the vote, and a large undecided voter base of nearly 25% makes the final outcome unpredictable.

Doria Medina, a prominent figure and owner of Bolivia's tallest building, the Green Tower in La Paz, is known for his centrist-conservative stance and his long-standing rivalry with former President Evo Morales. Quiroga, who served as president from 2001 to 2002, also holds a right-wing ideology and has unsuccessfully run against Morales's party in previous elections.

The final outcome of the election is expected to be determined in a second-round runoff scheduled for October 19. A candidate must secure over 50% of the vote, or over 40% with a lead of more than 10 percentage points over the second-place candidate, to avoid a runoff.

Meanwhile, attention is focused on the impact of former President Evo Morales, who was disqualified from the race due to legal and constitutional issues. Morales, Bolivia's first Indigenous president, was barred from a fourth term by the Constitutional Court and failed to secure a political party for his candidacy amid an investigation into alleged human trafficking. In response, he has urged his supporters, known as "Evistas," to cast "blank votes" to protest his exclusion. This move could result in a significant number of protest votes.

The election comes at a critical time for Bolivia, a resource-rich nation known for its lithium reserves and tourist destinations like the Uyuni Salt Flats. However, years of economic mismanagement, government overspending, and corruption have created significant financial instability, including a central bank foreign currency shortage and repeated economic setbacks. Observers believe that the populace, weary of the economic turmoil, is ready to turn away from the left-wing party that has dominated politics for two decades.