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AmericasAugust 29 2010

Paraguay banks on natural resources

The government of Paraguay has faced many challenges when striving to implement democratic reform and social policies while maintaining economic stability and promoting growth. The country's minister of finance, Dionisio Borda, outlines the government's efforts to make the most of its natural resources, attract private investment and build up Paraguay's infrastructure.
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Paraguay banks on natural resources

Q: In what areas does Paraguay have opportunities for growth?

A: Paraguay has several very important competitive advantages. The country is a food producer, involving agriculture and cattle-raising. We're also a clean energy producer; we're the largest energy exporter in the region. We consume only about 6% of the output of Itaipú [a hydroelectric plant on the border between Paraguay and Brazil] and we're now in discussion with a foreign company [Rio Tinto Alcan of Canada] over the installation of an aluminium plant, which is very energy-intensive. The [aluminium] project is being studied by an economic team within the government, formed by the finance minister, the central bank governor and the industry, agriculture and public works ministries. It is a signal of the level of interest in the country.

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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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