Bolivia elects center-right president, ending two decades of socialism

Center right senator Rodrigo Paz won a runoff presidential election in Bolivia Sunday, official provisional results showed, ending two decades of socialist rule blamed by many for the South American country's myriad economic problems.

With 97 percent of ballots counted, Paz had 54.5 percent of the vote compared to 45.4 percent for his rival, rightwing former interim president Jorge "Tuto" Quiroga, the Supreme Electoral Tribunal said.

Paz, the 58-year-old son of a former president, has vowed a "capitalism for all" approach to economic reform, with decentralization, lower taxes and fiscal discipline mixed with continued social spending.