When toymaker Estrela decided to move manufacturing capacity back to Latin America from China, it sank US$ 2 million into a new factory not in its native Brazil - the region's largest economy - but in its tiny southern neighbor Paraguay. The plant, which opened this month in the border town of Hernandarias, stands near a 4,500-hectare industrial park filled with Brazilian companies making everything from auto parts to clothing.
A Mennonite teenager, Franz Weiber who was abducted last July by Paraguayan Marxist inspired guerrillas in the north of the country was released on Saturday, safe and sound, after the family and friends collected the equivalent of US$ 25.000 in food to distribute among fourteen Indian communities in the area.
Mr Matthew Hedges has been appointed Her Majesty’s Ambassador to Paraguay in succession to Dr Jeremy Hobbs, who will be transferring to another Diplomatic Service appointment. Mr. Hedges will take up his appointment in August 2017.
Central Bank employees will count about 30 tons of Venezuelan currency seized in a private house in Paraguay, while officials try to figure out why the vast quantity of 50- and 100-bolivar bills was brought into the country. The cash was discovered in Salto del Guaira, a city about 370 kilometers northeast of the capital of Asuncion, on the border with Brazil in a region known for the contraband trade.
Mercosur representatives will be meeting their European Union counterparts this week, beginning Monday, in Brussels in anticipation of another round of trade and cooperation discussions scheduled for March in Buenos Aires. Mercosur members, under the coordination of Argentina, which currently holds the group's chair are attending with a common position reached after several days of videoconferences.
President Horacio Cartes Monday vetoed the 2017 budget to avoid the risk of default after the Senate set a ceiling on the amount of debt the government could issue.
Central Bank of Paraguay (BCP) CEO Carlos Fernández Valdovinos spoke of the possibility of closing this year with a growth of more than 4% of gross domestic product (GDP). Announcement due on December 5.
Various locations within the country, Central, Asunción and the metropolitan area have been area without power for several hours, even in places that were not hit directly by the adverse weather. But service had to be interruped nonetheless as several destructions were reported.
President Tabare Vazquez confirmed on Monday that Uruguay will continue as “coordinator” of discussions between Mercosur and the European Union to reach a wide ranging trade agreement.
Negotiations for a trade and cooperation agreement between Mercosur and the European Union must continue and should not be overshadowed by political issues such as the impeachment process in Brazil, pointed out Paraguay's foreign minister Eladio Loizaga, following a motion by 15 Green Euro and United Left parliamentarians in Strasbourg to cancel discussions because of the corruption contaminated removal of Dilma Rousseff.