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Introduction: Paraguay achieved its independence from Spain in 1811. In the disastrous War of the Triple Alliance (1865-70) - between Paraguay and Argentina, Brazil, and Uruguay - Paraguay lost two-thirds of all adult males and much of its territory. The country stagnated economically for the next half century. Following the Chaco War of 1932-35 with Bolivia, Paraguay gained a large part of the Chaco lowland region. The 35-year military dictatorship of Alfredo STROESSNER ended in 1989, and, despite a marked increase in political infighting in recent years, Paraguay has held relatively free and regular presidential elections since...

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Economic Overview: Paraguay is predominantly an agricultural economy. The country's main export is soybeans, which makes it highly susceptible to climate and world price changes. Paraguay's economic outlook continues to be affected by the economic performance of its neighbours, particularly its larger Mercosur partners, Brazil and Argentina. Paraguay has floated the idea of negotiating bilateral FTAs with other countries, including the United States.

The robust performance of Paraguay’s agricultural sector in 2010, as well as strong performances in construction and manufacturing, has driven a rebound from the recession in 2009. The ...

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History: Pre-Columbian civilization in the fertile, wooded region that is now Paraguay consisted of numerous semi-nomadic, Guarani-speaking tribes, who were recognized for their fierce warrior traditions. They practiced a myth-based polytheistic religion, which later blended with Christianity. Spanish explorer Juan de Salazar founded Asuncion on the Feast Day of the Assumption, August 15, 1537. The city ...

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International Relations: Relations with Neighbours

Paraguay has friendly relations with all its neighbouring countries. It is however strongly dependent on the economies of Brazil and Argentina and is often overshadowed economically by its larger neighbours.

Paraguay is a founding member of Mercosur (the Southern Cone Common Market), along with Argentina, Brazil and Uruguay. It is also a founding member of Banco de Sur (Bank of the South) an embryonic regional development bank.

Relations with the International Community

Paraguay and the EU

Paraguay receives a ...

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(Gs) Paraguayan Guarani (PYG)
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