SOUTH AMERICA’S UNLIKELY NEW ECONOMIC HOPE: PARAGUAY
Paraguay is emerging as a little-recognized beacon of economic success in South America. It would have been all too easy for foreigners visiting Paraguay at the turn of the 21st century to dismiss the landlocked country as little more than a languid backwater — scarred by a history of war, dictatorship and corruption, and with dim prospects. If they were to return now, they would hardly recognize the place. Gleaming skyscrapers have sprouted up across the capital, Asunción, over the past decade, a…
Containing Coronavirus – Paraguay’s Surprise Success
For a country with a young population and bright future, it’s striking how fixated Paraguay is with the past. The War of the Triple Alliance, an uneven battle that pitted Paraguay against Brazil, Argentina and Uruguay from 1864 to 1970, still shapes political discussions today. The war was notable for its incredible ferocity – judged by deaths per Paraguay’s population it was the most brutal in world history – and the courageous yet doomed defiance of the Paraguayans. But more importantly for investors,…
Paraguay’s Finance Minister Explains How His Country Can Cope with Covid-19
How will your tax reform improve the system? Benigno López: I believe it was Churchill that said when you think about future generations you are doing the right thing. Well the benefits of this reform will be felt by my successor and the next government of Paraguay because it will take up to five years for it to achieve its full effect. Don’t get me wrong, the state’s tax take will increase next year, but there are many different mechanisms that this law improves and it will be between three to five…
Paraguay South America’s Growth Champion Is Set to Rebound After Recession
Paraguay is set to retake its position among the fastest-growing South American economies in 2020, as central bank Chairman Jose Cantero estimates monetary stimulus and public investment will allow it to expand the most in three years. The country will expand 4.1% as a broad recovery spanning agriculture to industry takes hold after the benchmark rate was cut to a nine-year low, Cantero said in a phone interview from Asuncion. A slew of road and highway projects have been started as part of a $6.8 billion building…
Paraguay’s Economic, Political Transformation Deserves Recognition
South America is not at the center of global affairs, but few countries in the region may go as unnoticed as Paraguay. At first glance, Paraguay appears an unlikely prospect to stand out as an emerging-market democracy. In the shadow of the large and populous economies of Brazil and Argentina, the small landlocked country was long one of the poorest and most undemocratic. Yet, gradually but surely, Paraguay has accomplished notable political and economic reforms, a transformation that is earning a second…
The hard facts about Paraguay – FAQ for the new investor
PROFILE: Geography Area: 406,752 sq. km. (157,047 sq. mi.); about the size of California. Cities: Capital–Asuncion (pop. 518,945). Other cities–Ciudad del Este, Concepcion, Encarnacion, Pedro Juan Caballero, Coronel Oviedo. Terrain: East of the Paraguay River there are grassy plains, wooded hills, tropical forests; west of the Paraguay River (Chaco region) is low, flat, marshy plain. Climate: Temperate east of the Paraguay River, semiarid to the west.People Nationality: Noun and adjective–Paraguayan(s).…
Healthy economic performance in Paraguay
The commissioning of more than 70 companies is a sign of the healthy economic performance in Paraguay nowadays. Where five years ago there was nothing, today on the outskirts of Ciudad del Este, there are twelve assembly plants in full production – from companies that manufacture auto parts to clothes, which give work and produce wealth for this small country. The economic collapse of neighbouring Brazil has not affected production, rather, the opposite. The cost of labour is half that in Brazil, energy…
STANDARD & POOR’S 2016 OUTLOOK: PARAGUAY STANDS OUT IN LATIN AMERICA
STANDARD & POOR’S 2016 outlook for Paraguay is very promising. Paraguay is the only Latin American country with a positive outlook for 2016, said Moritz Kraemer, Global Chief Rating Officer, Sovereign Ratings at Standard & Poor’s during his presentation of the firm’s 2016 global sovereign outlook. Most countries in the region will continue to be affected by the slump in commodity prices and a slowdown of the Chinese economy, he added. Not surprisingly, Brazil faces a bleak new year with President…
Paraguay’s economy continues to impress
Paraguay’s Economy Continues to impress Paraguay’s economy continues to be a hotspot for growth. However, the downturn in global commodity prices has hit South American economies hard. Although Brazil and Venezuela are the most notable cases, several countries in the region are experiencing major economic slowdowns or even contractions. The country’s small but robust low-end manufacturing sector lies at the heart of this growth, buoyed by business-friendly tax incentives and low wages. Meanwhile,…
