Volatile. That’s the best way to describe
Paraguay’s growing economy and attendant banking
system. Growth has been erratic, and the economy and financial
system have had to navigate troubles in the agricultural
sector, a driver of growth and the banking
system’s main source of business.
Bank of the Year, Paraguay: Banco Continental
Staging a complicated debut in the international debt market in 2012 makes Paraguay’s largest bank stand out
The economy grew 13% in 2010, 4% in 2011 and then shrank 1%
last year, according to the World Bank. This year, some
estimates have it finishing above 10%. New president Horacio
Cartes says he would like to see a steadier annual rate of 7%
Few doubt the tremendous potential of the country and for
the banking system in particular, with many potential customers
still remaining out of the formal system.
Investor interest and renewed optimism for the
country’s future have followed the presidential
elections in April. Moves to better integrate with the global
financial system — including through the...
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