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Paraguay: Government

Key Figures

Chief of State:
President Santiago Peña Palacios
Head of Government:
President Santiago Peña Palacios

Overview

Government Name:
Republic of Paraguay
Constitution:
Adopted: 1992; Details basic principles, rights, duties, and guarantees and the political organization of the republic.
Government Type:
Presidential Republic
Republic of Paraguay Flag
Coat of Arms of Republic of Paraguay

Index of Economic Freedom

Grades each country on a scale of 0 to 100, based on ten freedoms, with 100 representing the greatest amount of economic autonomy from government intervention. Source: Heritage Foundation (2023)

Country Risk Rating

B
Political and economic uncertainties and an occasionally difficult business environment can affect corporate payment behavior. Corporate default probability is appreciable. Source: Coface (2023)

Government Branches

Main Powers Election Process Election Cycle 1
Executive

Head of state and head of government. President after leaving office given the speaking, but non-voting, position of lifelong senator.

President is elected by plurality vote.

5 years
Judicial

Supreme Court is the highest court in Paraguay. The court's three chambers provide jurisdiction upon constitutional, civil, and commercial and criminal issues.

Senate and the president select 9 members on the basis of recommendations from a Magistrates Council.

Mandatory retirement age of 75
Legislative

Serves as the legislative body of Paraguay.

Chamber of Senators members are elected through a closed-list proportional representation system. Chamber of Deputies members are elected through a closed-list proportional representation system.

5 years

Regional Trade Blocs
Mercosur

International Organization Participation [2]

Environmental Agreements [3]

Tax Information [2]

Tax Authority:
Finance Administration
Tax Name:
VAT

Sources:

  1. ElectionGuide http://www.electionguide.org/
  2. EY, http://www.ey.com
  3. CIA World Factbook, https://www.cia.gov/the-world-factbook/
  4. U.S. Bilateral Relations Fact Sheets http://www.state.gov/r/pa/ei/bgn/