Morales Wins! Already!

This is incredible. Everyone predicted that the Bolivian election would end with no one possessing a majority of the vote, sending Evo Morales and his U.S.-educated rival Quiroga to a vote in Congress, as mandated by their constitution. However, it appears that Morales has gone ahead and won 51% already. Amazing!

Of course as some experts have noted repeatedly, being president of Bolivia is pretty impossibly difficult. There were even theories that Evo, if he got into the congressional runoff, which always results in party coaltion-building, would have arranged to NOT be president in exchange for more power for his party, so that he wouldn't crash and burn as president.

Now he has to prove himself. Let's see if he's any different than other great leftist hopes of recent times in South America, like Kirchner and Lula. I j ust read that both Argentina and Brazil have finally buckled under and agreed to pay all their IMF debt in full.

Of course one of the first things in the corporate press about Evo's victory will be how unstable and unattractive to investors this will make Bolivia:

Morales's victory may ``add new risk to investments in many emerging markets that lack political consensus,''