Fitch calls on Paraguay to create sovereign wealth fund

A Fitch Rating specialist pointed out that Paraguay has little ability to finance its deficit in the domestic market, as almost 90% of its debt is in foreign currency.

RIO DE JANEIRO, BRAZIL - To maintain its sovereign rating (BB+), Paraguay must improve its financing capabilities or allow the creation and growth of a sovereign wealth fund and deepen its capital market as a source of financing.

Without these measures, the country is too exposed to the ups and downs of international financial markets, according to Todd Martinez, senior director for Latin America at Fitch Ratings.

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Yesterday's virtual presentation was titled "Prospects for Paraguay," in which the analyst . . .

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