Paraguay president taps Oscar Lovera as economy minister
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The Paraguayan flag waves outside the Presidential Palace in Asuncion, Paraguay May 1, 2023. REUTERS/Agustin Marcarian
ASUNCION, April 8 - Paraguay's President Santiago Pena on Wednesday appointed Oscar Lovera as the South American nation's new economy and finance minister, the government said in a statement.
Lovera, who previously served as head of the vice ministry of financial administration, replaces Carlos Fernandez, who resigned last week at the president's request.
The president's office said the leadership change is part of a "new stage" intended to consolidate economic growth and improve state efficiency.
Under Fernandez, Paraguay's economy grew steadily and inflation remained under control. The country also earned investment-grade ratings from Moody's and S&P Global during his tenure.
Critics, however, argue that persistent institutional weaknesses have prevented these macroeconomic gains from reaching ordinary citizens. REUTERS
