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News > Paraguay

Paraguay: Santiago Peña Assumes the Presidency Amid Marches

  • File photo of a Comunist march in Asuncion, Paraguay.

    File photo of a Comunist march in Asuncion, Paraguay. | Photo: X/ @JavierSanchezPy

Published 15 August 2023 (5 minutes ago)
Opinion

His presidency will be the third consecutive administration of the conservative Colorado Party.

On Tuesday, the Clasista Trade Union Action (ASC), the Citizen Participation Party (PPC), the Social Platform for Human Rights, Memory and Democracy, the Paraguayan Communist Party (PCP) and other progressive organizations called for marches in Asuncion amid the Santiago Peña presidential inauguration ceremony.

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The marches will begin at 10:00 a.m. from Italia Square and aim to ask the new Paraguayan president to establish fair wages, respect labor rights, and promote a dignified retirement.

Santiago Peña, an economist who was director of the Paraguayan Central Bank (BCP) and Economy Minister during the administration of Horacio Cartes (2013-2018), will receive a country whose gross domestic product (GDP) is expected to grow 4.5 percent for this year.

However, among his most urgent challenges are reducing a fiscal deficit of 3 percent of GDP and a public debt that reaches 35 percent of GDP.

The text reads, "Santiago Peña assumes the Presidency of Paraguay this Tuesday, after winning the April 30 elections. His administration will be the third consecutive administration of the National Republican Association (ANR), also known as the Colorado Party."

Political scientist Esteban Caballero believes that Peña's five-year administration "will continue in the neoliberal line" implanted by previous Paraguayan rulers.

"Peña believes in the market and the private sector. He will seek the path towards growth and development by stimulating private investment and strongly betting on the increase in foreign direct investment", Caballero said.

The new Paraguayan president will take office in a ceremony at the headquarters of Congress attended by six heads of State. Later, Peña will move to the esplanade in front of the Lopez Palace, the seat of Executive branch.

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