Santiago Pena: Paraguay’s New President-Elect

May 2, 2023

On April 23, 2023, Paraguay held its presidential election and Santiago Pena, the hand-picked candidate of the conservative Colorado Party, emerged as the victor.

Who is Santiago Pena?

Santiago Pena is a former central banker who worked at the International Monetary Fund (IMF) in Washington, D.C. Before entering politics, he pursued postgraduate education at Columbia University in New York, where he obtained a degree in economics. His political affiliation lies with the Colorado Party, a conservative party that has governed Paraguay for most of the past 70 years.

Pena’s Victory and Controversies

Pena’s biggest opponent in the election was Efrain Alegre, and he won the election with 43 percent of the vote. However, critics argue that Pena is a member of the elite and lacks political experience. Furthermore, they claim that he is acting as a puppet of the Colorado Party leader and former President Horacio Cartes.

Pena’s Stance on Issues

Pena is known for his business-friendly policies that focus on job creation, keeping taxes low, and attracting foreign investment. He is a defender of traditional family values and is opposed to abortion and gay marriage. Despite demands from the agricultural and livestock industries to open up an export market to China, Pena has pledged to preserve diplomatic relations with Taiwan.

Diplomatic Relations with Taiwan

Currently, only 13 countries recognize Taiwan, and Paraguay is one of them. In 2018, Paraguay moved its embassy to Israel, specifically in Tel Aviv. However, in the same year, Paraguay reversed its decision to move its embassy to Jerusalem, leading to Israel closing its mission in Asuncion.

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