The following week, the US Department of Agriculture (USDA) approved imports of Paraguayan beef for the first time in 26 years. These positive developments come at a time of instability for President Santiago Pena due to growing pressure from supporters of former President and current Colorado Party leader Horacio Cartes.
- While the government welcomed the announcement by Fitch, it had hoped that Paraguay would attain a BBB investment grade rating.
- Economic turmoil in Argentina will have a knock-on effect on employment opportunities and remittances.
- Concerns over corruption probes into leading power-broker Cartes will place strains on foreign relations and investment.