IBOV 175,546.36 ▼ 1.23% IPSA 11,275.15 ▲ 1.05% IPC MEX 66,396.15 ▼ 0.19% MERVAL 3,100,732 ▼ 1.76% COLCAP 2,350.44 ▲ 0.24% BVL PERÚ 58,781.02 ▲ 0.81% USD/BRL5.11▼ 0.01% USD/MXN17.20▼ 0.14% USD/CLP915.30▼ 0.06% USD/COP3,151▼ 1.75% USD/PEN3.38▲ 0.14% USD/ARS1,500▼ 0.02% USD/UYU40.24▲ 1.43% USD/PYG5,919▲ 1.21% USD/BOB11.81▼ 1.30% USD/DOP58.19▼ 0.19% USD/CRC449.80▲ 1.97% USD/GTQ7.62▲ 2.32% USD/HNL26.78▲ 0.64% USD/NIO36.62▲ 0.75% USD/VES754.82▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.89▲ 0.39% USD/TTD6.68▲ 0.41% EUR/BRL5.89▼ 0.70% BRENT 84.31 ▲ 2.21% WTI 78.73 ▲ 1.86% IRON ORE 161.91 — — COPPER 6.74 ▲ 0.73% GOLD 4,324 ▲ 1.94% SILVER 62.48 ▲ 1.69% SOY 1,184 ▲ 2.31% CORN 464.50 ▲ 5.81% WHEAT 632.75 ▲ 0.24% COFFEE 324.25 ▼ 0.81% SUGAR 15.58 ▲ 2.84% ORANGE JUICE 152.55 ▼ 3.27% COTTON 83.29 ▲ 1.77% COCOA 5,723 ▼ 2.70% BEEF 225.20 ▼ 3.83% CATTLE 341.75 ▼ 3.28% LITHIUM 72.41 ▼ 0.33% PETR4 42.13 ▲ 0.48% VALE3 75.39 ▼ 1.66% ITUB4 41.83 ▼ 1.30% BBDC4 17.70 ▼ 1.94% ABEV3 15.66 ▼ 1.14% BBAS3 20.28 ▼ 3.66% B3SA3 15.36 ▼ 1.22% WEGE3 48.40 ▼ 0.82% PRIO3 58.61 ▼ 1.00% SUZB3 41.97 ▼ 2.03% RENT3 38.16 ▼ 2.65% AZZA3 16.19 ▲ 1.44% CSAN3 3.79 ▼ 3.07% RAIZ4 0.26 — 0.00% PCAR3 2.90 ▼ 1.36% GMAT3 3.82 ▼ 1.80% PSSA3 52.65 ▼ 1.55% CVCB3 1.51 ▼ 2.58% POSI3 3.48 ▲ 0.58% SLCE3 13.21 ▼ 2.22% NATU3 8.18 ▼ 1.45% BRKM5 6.05 ▲ 3.07% RANI3 8.31 ▼ 0.95% CSNA3 4.74 ▼ 3.07% CMIN3 5.75 ▼ 2.54% USIM5 7.19 ▼ 3.62% GGBR4 25.65 ▼ 2.51% ENEV3 26.60 ▼ 1.41% CPFE3 45.85 ▼ 0.52% CMIG4 11.11 ▼ 1.24% EQTL3 38.43 ▼ 1.91% LREN3 13.48 ▼ 1.39% VIVT3 30.89 ▼ 1.03% RAIL3 13.71 ▼ 2.00% KLABIN 18.02 ▼ 3.33% RAIA DROGASIL 20.12 ▼ 2.09% RDOR3 34.06 ▼ 1.13% HAPV3 11.13 ▲ 0.18% FLRY3 17.27 ▼ 0.52% SMTO3 14.69 ▲ 2.73% UGPA3 32.75 ▲ 1.05% VBBR3 35.05 ▼ 0.11% BBSE3 40.96 ▲ 3.21% BPAC11 56.20 ▼ 1.07% CURY3 31.53 ▼ 1.56% AERI3 2.29 ▼ 0.43% VIVARA 21.81 ▼ 2.15% COMPASS 23.32 ▼ 3.72% VAMOS 3.11 ▼ 6.33% SANB11 29.27 ▼ 0.71% ASAI3 8.49 ▼ 3.85% SBSP3 27.39 ▼ 1.15% WALMEX 49.01 ▲ 0.99% GMEXICO 219.13 ▼ 1.46% FEMSA 210.07 ▼ 2.01% CEMEX 19.48 ▼ 2.40% GFNORTE 199.00 ▲ 0.04% BIMBO 60.64 ▼ 0.85% TELEVISA 9.80 ▲ 2.94% AMX 20.62 ▼ 0.82% GAP 382.00 ▲ 2.03% ASUR 277.72 ▲ 1.76% OMA 237.70 ▲ 0.68% KOF 188.00 ▲ 0.42% GRUMA 253.56 ▼ 1.37% KIMBER 40.15 ▼ 0.02% SQM-B 66,300 ▲ 3.67% COPEC 6,200 ▼ 1.40% BSANTANDER 81.06 ▲ 1.07% FALABELLA 6,400 ▲ 0.85% ENELAM 87.61 ▲ 0.64% CENCOSUD 2,060 ▲ 1.99% CMPC 1,030 ▼ 0.01% BANCO CHILE 191.70 ▲ 0.78% LATAM AIR 26.35 ▼ 0.11% YPF 7,840 ▲ 2.02% GGAL 7,385 ▼ 3.34% PAMPA 5,215 ▼ 1.79% TXAR 680.00 ▼ 0.15% ALUAR 936.00 ▼ 0.43% TGS 9,205 ▼ 0.43% CEPU 2,189 ▼ 3.27% MIRGOR 1,625 ▲ 0.31% COME 41.18 ▼ 0.65% LOMA NEGRA 3,380 ▼ 3.36% BYMA 290.00 ▲ 0.52% TELECOM ARG 4,345 ▲ 0.23% ECOPETROL 17.40 ▲ 6.16% BANCOLOMBIA 90.25 ▲ 0.12% GRUPO AVAL 5.11 ▼ 3.58% CREDICORP 392.56 ▼ 0.59% SOUTHERN COPPER 193.03 ▼ 2.02% BUENAVENTURA 32.57 ▼ 1.30% MERCADOLIBRE 1,830 ▼ 4.81% NUBANK 14.12 ▼ 2.49% XP 16.68 ▼ 1.77% PAGSEGURO 9.36 ▼ 0.43% STONE 11.08 ▼ 0.81% GLOBANT 37.24 ▼ 2.97% TECNOGLASS 44.47 ▼ 6.87% GAP 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USD/CLP 915.30 ▼ 0.06% USD/COP 3,151 ▼ 1.75% USD/PEN 3.38 ▲ 0.14% USD/ARS 1,500 ▼ 0.02% USD/UYU 40.24 ▲ 1.43% USD/PYG 5,919 ▲ 1.21% USD/BOB 11.81 ▼ 1.30% USD/DOP 58.19 ▼ 0.19% USD/CRC 449.80 ▲ 1.96% USD/GTQ 7.62 ▲ 2.32% USD/HNL 26.78 ▲ 0.64% USD/NIO 36.62 ▲ 0.75% USD/VES 754.82 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.89 ▲ 0.39% USD/TTD 6.68 ▲ 0.41% EUR/BRL 5.89 ▼ 0.70% BRENT 84.31 ▲ 2.21% WTI 78.73 ▲ 1.86% IRON ORE 161.91 — — COPPER 6.74 ▲ 0.73% GOLD 4,324 ▲ 1.94% SILVER 62.48 ▲ 1.69% SOY 1,184 ▲ 2.31% CORN 464.50 ▲ 5.81% WHEAT 632.75 ▲ 0.24% COFFEE 324.25 ▼ 0.81% SUGAR 15.58 ▲ 2.84% ORANGE JUICE 152.55 ▼ 3.27% COTTON 83.29 ▲ 1.77% COCOA 5,723 ▼ 2.70% BEEF 225.20 ▼ 3.83% CATTLE 341.75 ▼ 3.28% LITHIUM 72.41 ▼ 0.33% PETR4 42.13 ▲ 0.48% VALE3 75.39 ▼ 1.66% ITUB4 41.83 ▼ 1.30% BBDC4 17.70 ▼ 1.94% ABEV3 15.66 ▼ 1.14% BBAS3 20.28 ▼ 3.66% B3SA3 15.36 ▼ 1.22% WEGE3 48.40 ▼ 0.82% PRIO3 58.61 ▼ 1.00% SUZB3 41.97 ▼ 2.03% RENT3 38.16 ▼ 2.65% AZZA3 16.19 ▲ 1.44% CSAN3 3.79 ▼ 3.07% RAIZ4 0.26 — 0.00% PCAR3 2.90 ▼ 1.36% GMAT3 3.82 ▼ 1.80% PSSA3 52.65 ▼ 1.55% CVCB3 1.51 ▼ 2.58% POSI3 3.48 ▲ 0.58% SLCE3 13.21 ▼ 2.22% NATU3 8.18 ▼ 1.45% BRKM5 6.05 ▲ 3.07% RANI3 8.31 ▼ 0.95% CSNA3 4.74 ▼ 3.07% CMIN3 5.75 ▼ 2.54% USIM5 7.19 ▼ 3.62% GGBR4 25.65 ▼ 2.51% ENEV3 26.60 ▼ 1.41% CPFE3 45.85 ▼ 0.52% CMIG4 11.11 ▼ 1.24% EQTL3 38.43 ▼ 1.91% LREN3 13.48 ▼ 1.39% VIVT3 30.89 ▼ 1.03% RAIL3 13.71 ▼ 2.00% KLABIN 18.02 ▼ 3.33% RAIA DROGASIL 20.12 ▼ 2.09% RDOR3 34.06 ▼ 1.13% HAPV3 11.13 ▲ 0.18% FLRY3 17.27 ▼ 0.52% SMTO3 14.69 ▲ 2.73% UGPA3 32.75 ▲ 1.05% VBBR3 35.05 ▼ 0.11% BBSE3 40.96 ▲ 3.21% BPAC11 56.20 ▼ 1.07% CURY3 31.53 ▼ 1.56% AERI3 2.29 ▼ 0.43% VIVARA 21.81 ▼ 2.15% COMPASS 23.32 ▼ 3.72% VAMOS 3.11 ▼ 6.33% SANB11 29.27 ▼ 0.71% ASAI3 8.49 ▼ 3.85% SBSP3 27.39 ▼ 1.15% WALMEX 49.01 ▲ 0.99% GMEXICO 219.13 ▼ 1.46% FEMSA 210.07 ▼ 2.01% CEMEX 19.48 ▼ 2.40% GFNORTE 199.00 ▲ 0.04% BIMBO 60.64 ▼ 0.85% TELEVISA 9.80 ▲ 2.94% AMX 20.62 ▼ 0.82% GAP 382.00 ▲ 2.03% ASUR 277.72 ▲ 1.76% OMA 237.70 ▲ 0.68% KOF 188.00 ▲ 0.42% GRUMA 253.56 ▼ 1.37% KIMBER 40.15 ▼ 0.02% SQM-B 66,300 ▲ 3.67% COPEC 6,200 ▼ 1.40% BSANTANDER 81.06 ▲ 1.07% FALABELLA 6,400 ▲ 0.85% ENELAM 87.61 ▲ 0.64% CENCOSUD 2,060 ▲ 1.99% CMPC 1,030 ▼ 0.01% BANCO CHILE 191.70 ▲ 0.78% LATAM AIR 26.35 ▼ 0.11% YPF 7,840 ▲ 2.02% GGAL 7,385 ▼ 3.34% PAMPA 5,215 ▼ 1.79% TXAR 680.00 ▼ 0.15% ALUAR 936.00 ▼ 0.43% TGS 9,205 ▼ 0.43% CEPU 2,189 ▼ 3.27% MIRGOR 1,625 ▲ 0.31% COME 41.18 ▼ 0.65% LOMA NEGRA 3,380 ▼ 3.36% BYMA 290.00 ▲ 0.52% TELECOM ARG 4,345 ▲ 0.23% ECOPETROL 17.40 ▲ 6.16% BANCOLOMBIA 90.25 ▲ 0.12% GRUPO AVAL 5.11 ▼ 3.58% CREDICORP 392.56 ▼ 0.59% SOUTHERN COPPER 193.03 ▼ 2.02% BUENAVENTURA 32.57 ▼ 1.30% MERCADOLIBRE 1,830 ▼ 4.81% NUBANK 14.12 ▼ 2.49% XP 16.68 ▼ 1.77% PAGSEGURO 9.36 ▼ 0.43% STONE 11.08 ▼ 0.81% GLOBANT 37.24 ▼ 2.97% TECNOGLASS 44.47 ▼ 6.87% GAP AIRPORT 222.11 ▲ 2.11% ASUR 277.72 ▲ 1.76% OMA AIRPORT 111.21 ▲ 1.46% AMX ADR 23.91 ▼ 0.46% FEMSA ADR 122.15 ▼ 1.79% CEMEX ADR 11.30 ▼ 2.16% PETROBRAS ADR 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Santiago Peña’s triumph in Paraguay breaks the leftist trend in Latin America 

By · May 1, 2023 · 3 min read

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The overwhelming victory of economist Santiago Peña in the presidential elections in Paraguay on Sunday (30) has slowed the left’s advance in Latin America and consolidated the power of the conservative Colorado Party.

It secured a majority in the Senate and governorships in 15 of the nation’s 17 departments.

Peña, 44, won by a wide margin over liberal Efraín Alegre, the candidate of a coalition of various opposition parties who also failed in his third attempt to win the presidency.

Peña will replace Paraguay’s current president, Mario Abdo Benítez, also of the Colorado Party (Photo internet reproduction)
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With 99.94% of polling stations counted and a 63.24% turnout, Peña and his vice presidential candidate Pedro Alliana received 1,292,079 votes (42.74%), according to data from the Preliminary Election Results Transmission (TREP) system.

For his part, Alegre received 830,842 votes (27.48%) in the election, which was held in a single round.

One of the day’s surprises was the independent and anti-establishment candidate Paraguayo Cubas, who received 22.91% of the vote (692,663 votes) with the support of the National Crusade Party.

Peña will replace Paraguay’s current president, Mario Abdo Benítez, also of the Colorado Party.

His predecessor in office was Horacio Cartes (2013-2018), the current leader of the Colorado Party – or National Republican Association (ANR) – and considered the political mentor of the future head of state.

Colorado’s triumph in Paraguay breaks a leftist trend that returned to the region with the electoral victory of Gabriel Boric in Chile, Gustavo Petro in Colombia, and Luiz Inácio Lula da Silva in Brazil.

Moreover, this is the first time since 2019 that voters have not punished a party in power, said Daniel Zovatto, regional director of the International Institute for Democracy and Electoral Assistance (IDEA).

A CALL FOR UNITY

In a speech to hundreds of ruling party supporters, Peña celebrated his victory, calling for unity and announcing his intention to address social inequalities and asymmetries, but without naming specific measures of his future government.

“I call for unity and consensus to achieve our goal of collective well-being and prosperity without exclusion.”

“It is time to put aside our differences to prioritize the common concerns that unite us as a nation,” he said.

“Starting tomorrow (Monday), we will begin to shape the Paraguay we all want without gross inequalities or unjust social asymmetries.”

He added that the task ahead is “not just for one person or one party” after “the last few years of economic stagnation, budget deficit, with a worrying unemployment rate and an increase in extreme poverty.”

In Sunday’s election, in which nearly 4.8 million citizens were called to vote for senators, representatives, governors, and council members, the Colorado-National Republican Association (ANR) party received a 43.75% majority in the upper house.

THE FIGHT CONTINUES

The big loser of the day was Alegre, who had already been defeated by Horacio Cartes in 2013 and Mario Abdo Benítez in 2018.

“We will not give up; we are not the kind of people who give up. The struggle continues,” Alegre said in a brief statement to the press from his residence in Lambaré, near Asunción.

“The message is very clear, the citizenry clearly shows us that we are the majority, but we must be united,” he added.

The candidate of Concertación, a heterogeneous political conglomerate with formations of the right, center, and left, described it as a priority to “move forward in finding formulas that will allow us to continue fighting.”

Key Facts

Deep Dive

For the complete picture, read our in-depth guide: Paraguay: Washington's Most Valued Ally in Latin America

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