Paraguayan economy: High hopes

Paraguayan economy: High hopes

Economy & Policy Corporate & Sovereign Strategy Paraguay

By Thierry Ogier and Nancy ArecoThere is a new mood on the streets of Asunción, Paraguay’s capital, and it’s a happy one for foreign investors. Horacio Cartes, the business magnate who was sworn in as president mid-August, has so far had little trouble convincing investors that he means business when it comes to reforming the country’s creaking economy. But effecting change in a poor country that has long been plagued by corruption and inefficiency is likely to prove tougher than managing his 20-odd private businesses. The administration’s priority is to diversify the economy, helping end abrupt swings in the economic cycle that come from a dependency on agricultural exports. “The pre

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