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AmericasAugust 29 2010

Paraguay ups its game

Rich in potential but historically low on performance, Paraguay is making a concerted effort to improve its reputation in an attempt to attract both investors and tourists to the country. Writer Silvia Pavoni
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Paraguay ups its game

Not much is known about Paraguay. Landlocked between Brazil, Argentina and Bolivia, Paraguay emerged from the 35 years of General Alfredo Stroessner's dictatorship only in 1989. The election of current president, former bishop Fernando Lugo, ended 61 years of conservative rule in the country and was won on a campaign that focused on social values. Since his election, Mr Lugo has raised Paraguay's international profile, though often in an unfortunate manner. First he admitted to a high-profile paternity case, and then he was diagnosed with a treatable form of cancer.

Beyond the personal interest and the intrigue that politics inevitably provides, there is much more to discover. Despite facing myriad challenges, Paraguay's economy had been growing at almost 7% until the world's financial troubles hit in 2008. However, the country's gross domestic product is expected to return to pre-crisis levels this year.

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Silvia Pavoni is editor in chief of The Banker. Silvia also serves as an advisory board member for the Women of the Future Programme and for the European Risk Management Council, and is part of the London council of non-profit WILL, Women in Leadership in Latin America. In 2019, she was awarded an honorary fellowship by City University of London.
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