Mr Morales stepped down after the head of the army publicly called on him to leave his post.
Critics of Mr Morales celebrated his departure from office but there have also been incidents of looting.
Who’s in charge?
That is not entirely clear at this point, adding to the volatile nature of the situation. The deputy leader of the Senate, Jeanine Áñez, said she would assume power as interim leader until elections were held.
Ms Áñez made the announcement after Vice-President Álvaro García, Senate leader Adriana Salvatierra and House of Deputies’ leader Victor Borda had all resigned, leaving her next in line to take over power temporarily.
“I assume this challenge with the only objective to call new elections,” she said. “This is simply a transitional phase.”
The opposition politician said she would convene the legislative assembly later on Monday to be confirmed as interim president.
But with Mr Morales’ party in control of both the Senate and the House of Deputies it is not clear if she will get the necessary backing from legislators.
Under Bolivia’s constitution, whoever takes over as interim president has 90 days to call fresh elections.