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Weekly Report - 02 July 2020 (WR-20-26)

PARAGUAY: Abdo Benítez tables plan to revive economy

Paraguay’s President Mario Abdo Benítez delivered his second annual state-of-the-nation address to congress on 1 July. The main thrust of the 90-minute address, delivered virtually from the central bank, was the confirmation of a US$2.51bn economic recovery plan, revealed two days earlier. Abdo Benítez claimed that Paraguay was emerging from an economic crisis in the second half of 2019 and had been exhibiting positive signs before the coronavirus (Covid-19) pandemic struck. He argued that while this was unfortunate in one sense, it did mean that the domestic economy was in good shape to rebound quickly (unlike other economies in the region), especially if given a helping hand.

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