CAPITAL CITY OF Paraguay: Asuncion LANGUAGE OF Paraguay: Spanish CURRENCY OF Paraguay: Guarani (PYG) COMMENTS ABOUT Paraguay: Paraguay, officially the Republic of Paraguay, is a landlocked country in South America. Cities : Asuncion (capital), Ciudad del Este, Encarnacion, Concepcion, San Antonio, Villeta Electricity : 220V/60Hz (European plug) Calling Code : +595 Time Zone : UTC-4
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. CLIMATE OF Paraguay: subtropical to temperate; substantial rainfall in the eastern portions, becoming semiarid in the far west RELIGION OF Paraguay: Roman Catholic 90%, Mennonite, and other Protestant POPULATION OF Paraguay: 6,191,368 (July 2004 est.)>> ECONOMY OVERVIEW OF Paraguay: 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, rose slightly in 2001, only to fall again in 2002. 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.
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CAPITAL CITY OF Paraguay: Asuncion
