A surprisingly bright festival of Brazilian and South Korean
brands in the streets of Asunción contrasts with the
tranquil waters of the Paraguay River, which flows through the
sleepy capital city.
PARAGUAY | Overview: Small country, big hopes
One year after former businessman Horacio Cartes took over as president, Paraguay is in the midst of what it says is an aggressive reform agenda
The landlocked country, located in the heart of South
America, is looking for a new economic dawn.
High rise buildings are still few and far between in the
emerging business district of Santa Teresa, and in the colonial
part of the city, where most of the ministries are located. But
under the new government of President Horacio Cartes, Paraguay
is trying to shake off its old image as a sometimes corrupt,
authoritarian and unstable Latin American country, crippled by
a volatile economy.
To that purpose, the president — a billionaire
businessman — is trying to build a reputation as a
modernizer. He has surrounded himself with a generation of
mostly young technocrats: their ambition is to clean up
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