LatinNews Daily - 15 March 2022

In brief: Paraguay to create fund to subsidise fuel prices

*Paraguay’s finance minister, Oscar Llamosas, has announced that the government plans to create a fund to subsidise rising fuel prices amid the spike in energy costs as a result of the impact of Russia’s invasion of Ukraine. He said that the fund, which requires congressional approval, would have an initial capital of US$100m and apply to diesel, which he said was the most commonly used fuel in agricultural production and public transport. Paraguay’s state-owned oil firm Petropar also announced that there would be no increase in fuel prices for the rest of March and April. The announcements come as various transport sectors have staged protests in the capital Asunción and Ciudad del Este, the capital of Alto Paraná department, in recent weeks over fuel price rises.

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