La Paz, November 08 (QNA) - Bolivian President Rodrigo Paz Pereira was sworn in on Saturday, pledging that Bolivia will never again find itself in international isolation.

In his address after being sworn in, Paz said Bolivia won't be isolated as in the past, won't be subject to ideologies that have been overtaken by time, and certainly won't turn its back on the world.

He further emphasized that Bolivia returns to the world, and the world returns to Bolivia, noting the presence of over 70 international delegations at the ceremony.

Previously, Paz, a centre‑right politician, announced his intention to open the country to the world, including restoring diplomatic relations with the United States, which were severed in 2008 by former President Evo Morales.

Elected in October representing the Christian Democratic Party, Paz inherits a country in its worst economic crisis in four decades, with severe shortages of dollars and fuel, and inflation running around 19 % in October after peaking at roughly 25 % in July.

He has pledged to more than halve fuel subsidies and launch a programme titled “Capitalism for All,” focusing on decentralization, simplifying administrative procedures, and lowering taxes. (QNA)