Fernando Lugo won Paraguay’s presidential election with 43% of the vote and in August he will be sworn in to lead the second-poorest nation in South America (annual per capita GDP of $4,000). Paraguay is yet to embrace the capital markets and is ranked as one of the most corrupt nations in Latin America, despite becoming a democracy more than 20 years ago.
Paraguay has been ranked as the fifth-worst place to do business in Latin America, and has one of the lowest rates of foreign direct investment in the region. Paraguay is also ranked as the second-worst country...
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