Paraguay is a landlocked country located in the central part of South America. It is bordered by Argentina to the south and southwest, Brazil to the east and northeast, and Bolivia to the northwest. The capital city is Asunción. Paraguay is known for its diverse geography, which includes the Paraguay River, which runs through the country, providing a vital waterway for transportation and trade. The nation has a rich cultural heritage influenced by both Indigenous peoples and Spanish colonial history. The official languages are Spanish and Guarani, reflecting the country’s unique linguistic landscape. Paraguay’s economy is based on agriculture, livestock, and hydroelectric power, notably through the Itaipu Dam, one of the largest in the world. The country has a parliamentary republic system of government and a population that showcases a blend of ethnicities, traditions, and customs.
Adverse Weather Strikes! The ongoing drought in Paraguay is taking a significant toll on the agricultural and livestock sectors, prompting urgent actions from the Central Bank of Paraguay (BCP). On…