Best bank: Banco Itaú Paraguay
Paraguay continues to prove that a raft of business-friendly economic policies can pay off in Latin America, with the small landlocked country enjoying GDP growth of 4.5%. Part of that bump was due to the recovery from the previous year’s drought, but economists are confident of another year of growth above 3% in 2024.
The financial system is also well run and solid, and Banco Itaú Paraguay, led by chief executive José Luis Britez, continues to power ahead to a degree that should allay fears that its parent could be tempted to sell the business after it disposed of its bank in Argentina.
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