PRY

PRY

Paraguay (US /pɛərəɡwaɪ/, UK /pærəɡwaɪ/), officially the Republic of Paraguay (Spanish: República del Paraguay, Guaraní: Tetã Paraguái ), is a landlocked country in South America, bordered by Argentina to the south and southwest, Brazil to the east and northeast, and Bolivia to the northwest. Paraguay lies on both banks of the Paraguay River, which runs through the center of the country from north to south. Due to its central location in South America, it is sometimes referred to as Corazón de América ("Heart of America").

The Guaraní have been living in Paraguay since long before the arrival of Europeans in the 16th century, when Paraguay became part of the Spanish colonial empire. Following independence from Spain in 1811, Paraguay was ruled by a series of dictators who implemented repressive isolationist and protectionist policies. Its development was further truncated by the disastrous Paraguayan War (1864–1870), in which the country lost 60% to 70% of its population and large amounts of territory. Paraguay endured a succession of unstable and often authoritarian governments, culminating in the regime of Alfredo Stroessner, who led one of South America's longest-lived military dictatorships for a large part of the 20th century. In 1989, Stroessner was toppled in an internal coup, and free multiparty elections were held in 1993. A year later, Paraguay joined Argentina, Brazil and Uruguay to found Mercosur.

As of 2009, Paraguay's population was estimated to be at around 6.5 million, most of whom are concentrated in the southeast region of the country. The capital and largest city is Asunción, of which the metropolitan area is home to nearly a third of the Paraguay's population. In contrast to most Latin American nations, Paraguay's indigenous language and culture remains widespread, with the vast majority of the population identifying as mestizo. This influence is reflected in Guaraní's status as an official language, alongside Spanish. Both languages are widely-spoken in the country, with around 92% of the general population speaking Spanish and 98% speaking Guaraní.

Paraguay has long been one of the region's poorest and most isolated countries, although it has experienced consistent economic growth since the 21st century. In 2010, the economy grew by 14.5%, the largest economic expansion in Latin America, and the third fastest in the world (after Qatar and Singapore). By 2011, economic growth had slowed to 6.4%, but remained far higher than the global average. Nevertheless, widespread poverty, socioeconomic inequality, and poor governance remain persistent challenges.