The Colorado Party has dominated Paraguayan politics since the 1950s, but its popularity has been hit by a slowing economy and graft allegations
Paraguayan conservative economist Santiago Pena, 44, won the country’s presidential election on Sunday, tightening the ruling Colorado Party’s political grip in the country and defusing fears about the end of diplomatic ties with Taiwan.
The election result leaves Pena facing a challenge to rev up Paraguay’s farm-driven economy, shrink a major fiscal deficit and navigate rising pressures from soy and beef producers to ditch Taiwan in favour of China and its huge markets. Dry weather helped voter turn-out, analysts said, with queues to cast ballots long after polling stations were formally meant to close at 4 p.m. .
At the Mariscal Francisco Solano López school in the capital Asuncion, Ramona Oddone was one of the first in line to cast her ballot and was hopeful for a new direction.
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