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Paraguay’s President Highlights the Economy in Preparation for Re-Election Campaign

LADB Article ID: 80229
Category/Department: Paraguay
Date: 2017-03-03
By: Andrés Gaudín

Given the meager achievements of the Paraguayan government’s strategy to encourage foreign investment, President Horacio Cartes’ administration has resumed efforts to show any economic improvement before the end of its mandate in August 2018. It needs to do so in order to validate Cartes’ move into politics after a successful business career, and above all, to tackle a reelection campaign––if he manages to get the constitutional reform that would allow him to seek a second term. In its search for capital in and beyond the region, Paraguay signed a framework agreement with the US during former President Barack Obama’s last week in office to promote a positive investment climate and diversify bilateral trade of goods and services. Paraguay also awakened the interest of capitalists in the powerful Arab emirate of Dubai, although that has yet to bear any fruit. Then, using initiatives begun by neighboring Bolivia, it embraced the idea of building a binational railroad financed by Germany and Switzerland that, if realized, would connect South America’s interior with a network of waterways that would give Paraguay access to Argentina’s and Uruguay’s maritime ports. And on March 20-21, Paraguay will host the III Paraguay-Europe Investment Forum in Asunción.

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