LA PAZ — Bolivians voted on Sunday in a presidential runoff between former president Jorge Quiroga and Senator Rodrigo Paz, a contest poised to end nearly 20 years of socialist MAS rule.

The second round followed an August first round in which no candidate secured an outright majority. The collapse of the Movement for Socialism, long dominated by Evo Morales and Luis Arce, left two opposition figures competing for the presidency. Bolivia's electoral tribunal, the Tribunal Supremo Electoral, oversaw polling across the Andean nation of roughly 12 million people.

Both candidates campaigned on reversing an acute economic crisis marked by fuel shortages, dwindling dollar reserves and inflation that has strained household budgets. Quiroga, a conservative who previously led the country, pledged rapid market reforms and renewed ties with Washington and the International Monetary Fund. Paz offered a more gradual approach while also promising to open the economy.

The outcome carries major implications for the region, where Bolivia's lithium reserves and natural gas have drawn interest from China, Russia and Western investors. Researchers at the La Paz-based Fundación Jubileo warned that the winner will inherit depleted reserves and face unpopular decisions on fuel subsidies.

Polls across departments including La Paz, Santa Cruz and Cochabamba closed in the late afternoon, with the electoral tribunal expected to release preliminary results on Sunday evening.