Paraguay will end 2021 with inflation of 6.8%, well above the official target and the highest rate since 2010, driven by food and fuel price increases, the central bank said on Thursday, Reuters reported. Last year consumer prices in the country rose 2.2% and the official goal for 2021 was to end the year with a 4% rise. In 2010, inflation was 7.2%. Fuels soared almost 30%, beef 18% and flour 16% in 2021, according to a report from the bank, which did not register increases in consumer prices during the month of December.Read more
Paraguay will continue to dial back pandemic stimulus next year as a fast growing economy cushions austerity measures that have proved unpopular in other South American countries, Bloomberg News reported. The government has already reduced temporary pandemic cash transfers to people working in the country’s vast informal sector without triggering social unrest, Finance Minister Oscar Llamosas said in an interview. “The task of adjusting fiscal accounts was largely done this year, and the idea is to continue that in next year’s budget,” Llamosas said.Read more
Maria Esther Roa was fuming. A powerful lawmaker had, once again, escaped punishment for his misdeeds. But standing outside of Congress in Paraguay’s capital, Asunción, in early August of last year, Ms. Roa hatched an unconventional plan to bring some measure of accountability to the powerful. It involved pots, pans, dozens of eggs and lots of toilet paper — and it would inspire a nationwide grass-roots crusade against corruption in this tiny South American nation, the International New York Times reported.