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LatinNews Daily - 25 March 2020

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In brief: Paraguay’s Ande warns of insolvency

* The head of Paraguay’s state-owned electricity firm (Ande), Luis Alberto Villordo, has warned that the firm could be rendered “insolvent” if proposals to temporarily suspend electricity tariffs to provide economic relief to consumers amid the coronavirus (Covid-19) pandemic are approved. The government led by President Mario Abdo Benítez has sent an urgent bill to congress containing a series of emergency economic measures designed to mitigate the economic impact of Covid-19, including the suspension of electricity tariffs for three months. But Villordo has warned that “Ande is in no economic or financial position to condone tariffs” given its high level of debt. According to Villordo, in order to compensate the suspension of tariffs, Ande would have to receive some US$30m a month from the government “just to maintain cash flow”.