MercoPress. South Atlantic News Agency

Paraguay's Economy Minister praised by leading world publication

Fernández Valdovinos was also praised for his work as President of the Central Bank of Paraguay under former President Horacio Cartes

Paraguay's Economy Minister Carlos Fernández Valdovinos was singled out by the London-based The Banker publication for issuing bonds in guaraníes and the South American country's handling of the corruption issues that pop up. The outlet also recognized the finance ministers of France, Vietnam, Qatar, Morocco, and Chile for their management of the economy, growth policies, crisis response, and leadership skills.

The monthly publication focuses on the global financial sector, providing analysis, features, and news on banks, capital markets, economic trends, and regulation. It is part of the Financial Times Group and is considered a trusted source of information on the banking industry.
The publication recognized Paraguay's credit rating upgraded by Moody's Ratings to investment grade in July 2024. It highlighted the country's economic development, with an average annual 3.6% growth, much faster than other countries in the Americas.
The outlet also underlined the issuance of the first bond in guaraníes in the international market and the replacement of the National Securities Commission by the Superintendency, which now oversees and regulates the securities market.
The magazine also mentioned the challenges facing Fernández Valdovinos as President of the Central Bank of Paraguay under former President Horacio Cartes and underscored the controversial anti-NGO law whereby all non-profit organizations receiving public or private funding must submit financial reports every six months, “something that could be used to attack the opponents of the ruling party.”
(Source: ABC)