Bolivia's socialist president resigns

Another one bites the dust.

Socialist leader Evo Morales resigned as Bolivia's president on Saturday after an international audit found "serious irregularities" in last month's presidential elections.

According to CNN, Morales said he is stepping down "for the good of the country." Vice President Alvaro Garcia Linera has also stepped down. The resignations come after weeks of protests and a fierce backlash to last month's controversial elections.

The Canadian Broadcasting Corporation reports Morales' departure from office after 14 years may be the result of internal demands from the country's military leaders.

"We suggest the President of the State renounce his presidential mandate, allowing peace to be restored and the stability maintained for the good of our Bolivia," said General Williams Kaliman, the commander of Bolivia's armed forces.

Meanwhile, CBS says that following Morales' resignation, a large crowd rejoiced in the Bolivian capital's main square with "some crying tears of joy."

The crowd chanted "This is not Cuba, nor Venezuela. This is Bolivia, and Bolivia is respected."

An ally of the international left

Morales has been an ally of regional leftist causes who closely aligned himself with the socialist regimes in Cuba and Venezuela for well over a decade, including the late socialist strongmen Hugo Chavez and Fidel Castro.

Jose GOITIA/Gamma-Rapho via Getty Images

The now-disgraced Bolivian president was also vocal critic of the United States. In 2016, Cuban state media reported that Morales credited Cuba's Castro with teaching him "not to be afraid of imperialism."

This is a developing story that we will continue updating and monitoring.