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.
Paraguayan President Santiago Peña Wednesday signed into law a bill suppressing the Finance Ministry and creating a Ministry of Economy and Finance instead, it was reported in Asunción. The motion had been passed by the Lower House earlier this month.
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.