Paraguay’s government oil company Petropar is trying to find a foreign associate for oil exploration in the country’s vast Chaco region. Apparently companies from Russia and Bahrain have shown certain interest but Paraguayans admit the difficulties.
Paraguay’s 2010/11 soy bean crop covers 2.830.000 hectares (twice the area ten years ago) and the expected yield is between 2.900 and 3.100 kilos per hectare according to the latest satellite pictures in hands of the Paraguayan Chamber of Grains and Oilseed Exporters, Capeco.
So far the record yield dates back to 2003 with a national average of 2.915 kilos.
Islamic extremist groups such as Al Qaeda, Hezbollah and Hamas are illegally operating in the Triple Frontier area shared by Argentina, Paraguay and Brazil, where they allegedly gather large amounts of money, recruit new militants and plan additional attacks, Brazilian magazine Veja denounced.
The Brazilian government is intent in increasing to 360 million US dollars annual payment for the surplus power from the world’s largest operational hydroelectric dam Itaipu, shared with Paraguay promised Marco Aurerlio Garcia President Dilma Rousseff international affairs advisor and special envoy.
Boosted by agriculture Paraguay's economy grew an all time record of 15,3% in 2010, following on a 3.8% contraction in 2009, according to the latest release from the Central bank.
An academic seminar “20 years of Mercosur” will be the main celebration of the twentieth anniversary of the South American trade block, unable to convene political figures from the four full member countries to commemorate the 26 March 1991 founding charter or Asuncion Treaty.
President Dilma Rousseff will not be visiting Paraguay until the Brazilian Congress approves the Itaipú reversal notes which establish a greater compensation for surplus power purchased from Paraguay by Latin America’s energy hungry largest economy.
Paraguay has a new Foreign Affaire minister, Jorge Lara Castro who until now was Deputy to Hector Lacognata and who had presented his resignation three weeks ago.
“Not even dressed as Father Christmas can president Hugo Chavez make Venezuela become a member of Mercosur”, according to a 2009 Wikileaks cable quoting Paraguay’s Foreign Affairs minister Hector Lacognata during an informal talk with US ambassador in Asuncion Liliana Ayalde.
Uruguayan investors have purchased an estimated 1.1 million hectares in the Paraguayan Chaco, (heartland of landlocked Paraguay) in spite of the fact land prices have quadrupled in the last two years. The record year was 2010 with 200.000 hectares.