Asunción, Agencia IP.- The President of the Republic, Santiago Peña, announced this Friday that Paraguay has achieved an investment grade recognized by the rating agency Moody’s. «This achievement is the result of decades of effort and dedication to transform our economy and strengthen our institutions,» he emphasized.
The President explained that Moody’s recognition not only reduces the country’s risk and improves its financing conditions but also sends a clear message to the world that Paraguay is a reliable and attractive place to invest.
«This achievement will boost the creation of quality jobs, investment in infrastructure, and the diversification of our economy,» he affirmed.
He added that obtaining the investment grade is a crucial step for Paraguay’s sustainable development, consolidating its economy on the international stage and opening new opportunities for all sectors.
«This is a triumph for all Paraguayans. Let’s continue working together for a more prosperous and equitable Paraguay,» the President said in a video posted on social media.
Peña also highlighted that achieving this investment grade is the result of deep institutional reforms undertaken since the early 2000s.
In this regard, he recalled that Paraguay began a process of profound reforms and building institutional pillars since 2002, focusing on achieving macroeconomic stability and strengthening its financial system.
In this context, he highlighted that significant fiscal reforms were implemented between 2013 and 2018, promoting transparency and modernizing public finances.
He mentioned that the Fiscal Responsibility Law demonstrated economic maturity. At the same time, the investment laws through public-private partnerships and turnkey financing expanded the country’s capacity for public infrastructure investment.
Regarding the current period, he mentioned strengthening existing institutions and creating new ones, such as the Pension Superintendence, the National Directorate of Tax Revenues, and the Ministry of Economy and Finance.
Finally, he emphasized the launch of the National Anti-Corruption Strategy, «a joint commitment of all branches of the State to fight against corruption.»