"The United States congratulates Bolivian President-elect Luis Arce and Vice President-elect David Choquehuanca, whom the Bolivian people chose in their October 18 national elections," Secretary of State Mike Pompeo said in a statement.

Pompeo said Washington recognizes "Supreme Electoral Tribunal President Salvador Romero and all of Bolivia’s electoral authorities for overseeing this credible process, along with the hard work and peaceful conduct of Bolivian voters, political parties, civil society, and the security forces."

The US looks forward to working with the new "democratically" elected government on mutual interests, he added.

Exit polls showed the Movement for Socialism (MAS) party candidate and former President Evo Morales' successor won the presidency in the South American country with 52% of votes.

Arce said Tuesday that Morales "will not have any role" in his government following his forced resignation in 2019. 

"He can return to the country whenever he wants because he’s Bolivian … but in the government it’s me who has to decide who forms a part of the administration and who does not," Arce told Reuters.

His remarks came one day after Morales voiced his intention to return to Bolivia from Argentina, where he was granted asylum.

"Sooner or later we are going to return to Bolivia, that is not in debate,” Morales said at a news conference. "My great desire is to return to Bolivia and enter my region. It is a matter of time."

Official results have yet to be announced but the Supreme Electoral Tribunal announced that 85.5% of the vote has been counted.