IBOV 185,547.66 ▼ 0.51% IPSA 11,235.54 ▼ 0.77% IPC MEX 63,507.11 ▼ 1.11% MERVAL 3,028,871 ▼ 1.65% COLCAP 2,511.76 ▼ 2.16% BVL PERÚ 58,496.57 ▲ 0.80% USD/BRL5.15— 0.00% USD/MXN17.25▲ 0.58% USD/CLP954.20▼ 0.22% USD/COP3,135▲ 0.66% USD/PEN3.37▲ 0.52% USD/ARS1,512▲ 0.37% USD/UYU40.19▲ 2.94% USD/PYG5,905▲ 1.29% USD/BOB10.10▼ 13.67% USD/DOP58.76▼ 0.07% USD/CRC444.45▲ 1.84% USD/GTQ7.62▲ 2.98% USD/HNL26.85▲ 0.27% USD/NIO36.62▲ 0.29% USD/VES845.33▼ 0.02% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.73▲ 2.25% EUR/BRL5.90▼ 0.40% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73% IBOV 185,547.66 ▼ 0.51% IPSA 11,235.54 ▼ 0.77% IPC MEX 63,507.11 ▼ 1.11% MERVAL 3,028,871 ▼ 1.65% COLCAP 2,511.76 ▼ 2.16% BVL PERÚ 58,496.57 ▲ 0.80% USD/BRL 5.16 ▲ 0.01% USD/MXN 17.06 ▼ 0.24% USD/CLP 913.98 ▲ 0.04% USD/COP 3,140 ▲ 0.03% USD/PEN 3.36 ▼ 0.66% USD/ARS 1,493 ▲ 0.10% USD/UYU 40.27 ▲ 1.24% USD/PYG 5,939 ▲ 1.68% USD/BOB 11.64 ▼ 0.76% USD/DOP 58.34 ▲ 1.25% USD/CRC 445.92 ▲ 0.89% USD/GTQ 7.62 ▲ 2.21% USD/HNL 26.79 ▲ 1.57% USD/NIO 36.62 ▲ 0.69% USD/VES 762.44 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.28 — 0.00% USD/TTD 6.70 ▲ 0.61% EUR/BRL 5.95 ▲ 1.01% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73%
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Paraguay Reduces Global Footprint, Shuts Down Embassies

By · April 9, 2024 · 2 min read

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Paraguay has declared it will shut down its embassies in Egypt, Canada, Portugal, Australia, and Switzerland.

The country cites financial limitations and reciprocity agreements as reasons for this decision.

Foreign Minister Lezcano stated that after thorough discussions, embassies will close but diplomatic ties will continue through non-resident ambassadors.

He pointed out that the affected countries do not have embassies in Asunción, Paraguay, and usually manage their diplomatic relations from neighboring countries.

Specifically, Canadian affairs will be overseen from Washington, D.C., and Swiss matters may be handled through Geneva or Paris.

Paraguay Reduces Global Footprint, Shuts Down Embassies.
Paraguay Reduces Global Footprint, Shuts Down Embassies.
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This strategic move comes as Paraguay seeks to ‘optimize’ its diplomatic network within its financial limits, emphasizing mutual agreement with the countries involved.

Despite closing some embassies, Paraguay says it is actively seeking to enhance its international diplomatic presence.

The country is pursuing new ambassadorial roles in several nations, including Belgium, Argentina, and the United Kingdom, among others.

On the other hand, Paraguay’s embassies in South Korea and Italy will not be staffed, reflecting a strategic choice in its foreign representation.

This decision highlights Paraguay’s focus on reciprocity, budgetary limits, and the strategic significance of its international diplomacy.

Uruguay Adopts Divergent Foreign Policy Strategy

While Paraguay tightens its belt, its smaller neighbor Uruguay is making bold strides on the international stage by endorsing the Artemis Accords.

This reflects its aim to grow in innovation, democracy, and education. The U.S. supports Uruguay’s venture into space.

Uruguay is also pursuing a free trade agreement with China, signaling a shift towards more global trade relations and less dependence on regional blocs like Mercosur.

Paraguay’s strategic retrenchment contrasts sharply with Uruguay’s vigorous push for global presence and trade expansion.

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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