Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Arce (center, with badge) celebrates on election night. Photo: Javier Mamani/Getty Images

Leftist candidate Luis Arce won an "overwhelming and clear" victory in Bolivia's presidential election, his chief opponent said Monday in a concession speech.

Why it matters: Looming over Sunday's vote were the events of one year ago, when then-president Evo Morales was ousted and fled into exile following a disputed election. He was controversially succeeded by a right-wing senator, Jeanine Añez, deepening a political crisis which appears to have ended with an emphatic mandate for Morales' party, the Movement for Socialism.

Setting the scene: Arce had long led centrist former president Carlos Mesa in the polls, but needed either an outright majority or a 10% margin of victory to avoid a runoff.

  • Some feared a contested outcome that could further imperil Bolivia's democracy, given the polarization and sporadic violence of the past year.
  • The crisis began when official results in last year's election showed Morales barely clearing the 10% threshold to avoid a runoff, kicking off a chaotic period in which the Organization of American States said it found evidence of fraud, and Morales fled the country under pressure from the military — an outcome his supporters labeled a coup.
  • Añez was declared acting president under constitutionally questionable circumstances, and was accused of misusing her interim role to target the left and seek election herself (she dropped out in September out after polls showed her in fourth place).

The state of play: This time, the fight was effectively over as soon as polls closed.

  • While the official results haven't been declared, two independent exit polls showed Arce winning a convincing first-round victory. Añez acknowledged Arce's victory on election night and Mesa conceded the following day.

Between the lines: Arce is a far different figure from his charismatic former boss, who was seen by supporters as the founding father of a new Bolivia and by opponents as a would-be authoritarian.

  • Arce served as Morales' economy minister for 12 years, overseeing robust economic growth and earning a reputation as a pragmatic technocrat.
  • Arce distanced himself from Morales at times during the campaign, and his allies have insisted he will govern as his own man and not as a stand-in for the former president.
  • “I think the Bolivian people want to retake the path we were on,” he said at an election night event.

Go deeper

Updated Nov 1, 2020 - Politics & Policy

Scoop: Trump's plan to declare premature victory

Photo: Eduardo Munoz Alvarez/Getty Images

President Trump has told confidants he'll declare victory on Tuesday night if it looks like he's "ahead," according to three sources familiar with his private comments. That's even if the Electoral College outcome still hinges on large numbers of uncounted votes in key states like Pennsylvania.

The latest: Speaking to reporters on Sunday evening, Trump denied that he would declare victory prematurely, before adding, "I think it's a terrible thing when ballots can be collected after an election. I think it's a terrible thing when states are allowed to tabulate ballots for a long period of time after the election is over."

Dion Rabouin, author of Markets
28 mins ago - Economy & Business

The digital dollar is now high priority for the Fed

Illustration: Aïda Amer/Axios

The U.S. is starting to get serious about a central-bank-backed digital currency, with recent comments from top officials laying out the strongest support yet.

Driving the news: On Tuesday Fed chair Jerome Powell told Congress that developing a digital dollar is a "high priority project for us," but added that there are "significant technical and policy questions."

Dan Primack, author of Pro Rata
2 hours ago - Economy & Business

Coinbase files to go public

Illustration: Eniola Odetunde/Axios

Cryptocurrency exchange Coinbase on Thursday filed to go public via a $1 billion direct listing.

Why it matters: This comes in the midst of a crypto boom, and the listing may further legitimize the industry.