LA PAZ, Bolivia — President Rodrigo Paz of Bolivia said Tuesday he planned to scrap a ream of taxes, in one of his first moves since becoming the nation's first conservative leader in nearly two decades in a bid to rescue a crisis-stricken economy.

Just over two weeks since taking office, Paz also announced his government would slash 30% of total federal spending from Bolivia's 2026 budget to reverse years of populist economic measures taken under the long-ruling Movement Toward Socialism, or MAS, party. He did not give further details on how his government would make such deep cuts.

Speaking to reporters on Tuesday, Paz said he was proposing to repeal Bolivia’s national wealth tax, arguing that it had crippled growth and discouraged billions of dollars in investments since being imposed

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