Paraguay's Pena swaps out economy chief Fernandez

March 31, 2026 12:54 PM EDT

March 31 (Reuters) - ‌Paraguay's Minister ​of ​Economy and Finance, Carlos Fernandez, has resigned from his role ‌at the request of President Santiago ⁠Pena, the president's chief of staff Javier ‌Gimenez said on ‌Tuesday.

"This second half (of Pena's administration) requires very specific skills and very specific ​competencies and that is why the president's decision is along those ⁠lines," Gimenez said.

Presidential adviser Juan Jose Galeano will ​serve as interim minister until Pena decides on a permanent replacement, ​likely after the Easter ‌holiday, Gimenez said.

A statement from Pena's office said the ⁠president had ordered changes that were part of a "new stage aimed at consolidating ⁠economic growth and strengthening the efficiency of the ​state."

Under Fernandez, Paraguay’s economy grew steadily, inflation remained under control, and the country earned ‌investment-grade ratings from Moody’s and Standard & Poor’s.

Critics, however, argue that ‌persistent institutional weaknesses have prevented ⁠these gains from ‌reaching ordinary citizens.

(Reporting ​by Daniel Desantis; Writing by Brendan O'Boyle; Editing by Iñigo ‌Alexander)



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Reuters