Prepare the ingredients: Dice the chorizo, potatoes, and bell peppers into bite-sized pieces. Mince the garlic and chop the onion.
Sauté the aromatics: In a large pot or Dutch oven, heat olive oil over medium heat. Add the chopped onion and cook until softened, about 5 minutes. Add the minced garlic and cook for another minute until fragrant.
Brown the chorizo: Add the diced chorizo to the pot and cook until it is lightly browned and has released some of its oils, about 5-7 minutes.
Add vegetables and spices: Add the diced potatoes and bell peppers to the pot. Stir in the smoked paprika, saffron threads, salt, and pepper. Cook for 3-5 minutes, stirring occasionally, to allow the spices to toast and release their flavors.
Simmer the stew: Pour in the chicken broth, making sure all the ingredients are submerged. Bring the stew to a simmer, then reduce the heat to low, cover the pot, and cook for 30-40 minutes, or until the potatoes are tender.
Adjust seasoning and serve: Taste the stew and adjust seasoning with salt and pepper as needed. Ladle the stew into bowls and garnish with fresh parsley, if desired. Serve hot with crusty bread for dipping.
