Paraguay Location : Central South America, northeast of Argentina
Capital City : Asuncion
Curreny : guarani (PYG)
Languages Spoken : Spanish (official), Guarani (official)
Climate : subtropical to temperate; substantial rainfall in the eastern portions, becoming semiarid in the far west
National Holiday : Independence Day, 14 May (1811)
Background Information
In the disastrous War of the Triple Alliance (1865-70), Paraguay lost two-thirds of all adult males and much of its territory. It stagnated economically for the next half century. In the Chaco War of 1932-35, large, economically important areas were won from Bolivia. The 35-year military dictatorship of Alfredo STROESSNER was overthrown in 1989, and, despite a marked increase in political infighting in recent years, relatively free and regular presidential elections have been held since then.
Geographical Note
landlocked; lies between Argentina, Bolivia, and Brazil; population concentrated in southern part of country
Economy
Paraguay has a market economy marked by a large informal sector. The informal sector features both reexport of imported consumer goods to neighboring countries as well as the activities of thousands of microenterprises and urban street vendors. Because of the importance of the informal sector, accurate economic measures are difficult to obtain. A large percentage of the population derives their living from agricultural activity, often on a subsistence basis. The formal economy grew by an average of about 3% annually in 1995-97, but GDP declined slightly in 1998, 1999, and 2000. On a per capita basis, real income has stagnated at 1980 levels. Most observers attribute Paraguay's poor economic performance to political uncertainty, corruption, lack of progress on structural reform, substantial internal and external debt, and deficient infrastructure.
Religions
Roman Catholic 90%, Mennonite, and other Protestant
Ports : Asuncion, Villeta, San Antonio, Encarnacion
International Disputes - Risks to travellers
: none
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