Bolivians elected Rodrigo Paz as president on Sunday, selecting the center-right senator and economist to address the country's worst economic crisis in 40 years.

Paz, 58, campaigned on slashing public spending, especially on fuel subsidies, and vowed a "capitalism for all" approach to economic reform in a marked shift from the preceding two decades of socialist government.

The president-elect, who will assume office on November 8, has promised that his governance style will be one of "consensus," as he hopes to gain public trust in a divided society.

- Economy -

Bolivia is in the grips of an economic crisis, with year-on-year inflation at 23 percent and a chronic shortage of fuel.

One of Paz's main challenges at the start of his tenure will be to find a way out of the fuel crisis and

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