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Montevideo, July 18th 2024 - 17:26 UTC

 

 

Paraguayan President reminded that “impunity discourages foreign investment”

Friday, June 28th 2024 - 19:49 UTC
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The US and Paraguay are allies and strategic partners in tackling corruption, Verma pointed out The US and Paraguay are allies and strategic partners in tackling corruption, Verma pointed out

US Under Secretary of State for Management and Resources Richard Verma, who heads his country's delegation before the Organization of American States (OAS) 54th General Assembly in Asunción, met Thursday afternoon with Paraguayan President Santiago Peña, with whom he discussed the devastating effects of corruption and impunity on the economy.

“I spoke about the US Government's support to Paraguay in its fight against corruption and impunity. These practices generate distrust and discourage foreign investment, directly affecting the country's development and stability. President Peña highlighted some of his government's initiatives in the fight against corruption, which we welcome. At the same time, we encourage Paraguay to expand its efforts to ensure that crimes do not go unpunished,” Verma told reporters during a post-encounter press conference.

The US dignitary insisted his country and Paraguay were allies and strategic partners in tackling corruption. He also highlighted that sanctions should be applied to everyone involved, from low-level to high-ranking officials because corruption “undermines citizens' confidence in democracy, and foreign investors pay close attention to the rule of law when deciding where to invest their money. Transparency and accountability are fundamental to the rule of law, they are also fundamental to ensure adherence to the principles of the Inter-American Democratic Charter,” Verma argued.

“I also wish to express my appreciation to President Peña and his administration for their partnership and collaboration in advancing the four pillars of the OAS: democracy, human rights, security, and development in the Western Hemisphere. The President and the people of Paraguay have been excellent hosts for this General Assembly,” he stressed.

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