Paraguay: The fastest economic growth in South America resists regional attacks

The economic resistance of Paraguay to deal with the problems their neighbors are facing deserves to be rewarded with an investment grade ratingaccording to Finance Minister Benigno López.

The growing economy more rhythm in South America will increase about 3.5% this year, more or less at the same level as in 2018, Although Brazil and Argentina are fighting stagnation or recession, Commented López in an interview. The government previously estimated 4% growth in 2019.

"Paraguay is in a complicated neighborhood" Lopez also mentioned local problems such as a drought that damaged soybean crops, followed by floods that damaged meat production. "But Paraguay will continue to grow at significant levels in the region."

Paraguay depends to a large extent on its big neighbors, which are the destination of a large part of their agricultural exports. The country is trying to increase its growth potential beyond 4% by investing in infrastructure and education, as well as modernizing its tax system.

While Paraguay is twice as highly rated as investment grade by Paraguay, two of the world's top three rating agencies have said the country deserves more oversubscription of its latest global bond issue by six, the minister said.

Mr Lopez, who will attend meetings of the International Monetary Fund and the World Bank in Washington, DC, said he would meet with representatives of rating agencies this week. "We come here every year and ask when they give us the investment grade, I do not want to ask for more"he badured. "The recognition of the agency will come as soon as possible."