Part 659

Executive branch: chief of state: President Juan Carlos WASMOSY (since 15 August 1993) and Vice President Roberto Angel SEIFART (since 15 August 1993); note - the president is both the chief of state and head of government head of government: President Juan Carlos WASMOSY (since 15 August 1993) and Vice President Roberto Angel SEIFART (since 15 August 1993); note - the president is both the chief of state and head of government cabinet : Council of Ministers nominated by the president elections: president and vice president elected on the same ticket by popular vote for five-year terms; election last held 9 May 1993 (next to be held NA May 1998) election results: Juan Carlos WASMOSY elected president; percent of vote - Juan Carlos WASMOSY 40.09%, Domingo LAINO 32.06%, Guillermo CABALLERO VARGAS 23.04%

Legislative branch: bicameral Congress or Congreso consists of the Chamber of Senators or Camara de Senadores (45 seats; members are elected by popular vote to serve five-year terms) and the Chamber of Deputies or Camara de Diputados (80 seats; members are elected by popular vote to serve five-year terms) elections: Chamber of Senators - last held 9 May 1993 (next to be held 10 May 1998); Chamber of Deputies - last held 9 May 1993 (next to be held NA May 1998) election results : Chamber of Senators - percent of vote by party - NA; seats by party - Colorado Party 20, PLRA 17, EN 8; Chamber of Deputies - percent of vote by party - NA; seats by party - Colorado Party 38, PLRA 33, EN 9

Judicial branch: Supreme Court of Justice (Corte Suprema de Justicia), judges appointed on the proposal of the Counsel of Magistrates (Consejo de la Magistratura)

Political parties and leaders: Colorado Party, Luis Maria ARGANA, president; Authentic Radical Liberal Party (PLRA), Domingo LAINO; National Encounter (EN), Carlos FILIZZOLA; Christian Democratic Party (PDC), Miguel MONTANER; Febrerista Revolutionary Party (PRF), Victor SANCHEZ Villagra; Popular Democratic Party (PDP), Hugo Richer

Political pressure groups and leaders: Unitary Workers Central (CUT); Roman Catholic Church; National Workers Central (CNT); Paraguayan Workers Confederation (CPT)

International organization participation: AG (observer), CCC, ECLAC, FAO, G-77, IADB, IAEA, IBRD, ICAO, ICFTU, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, Intelsat, Interpol, IOC, IOM, ISO, ITU, LAES, LAIA, Mercosur, OAS, OPANAL, PCA, RG, UN, UNCTAD, UNESCO, UNIDO, UPU, WCL, WHO, WIPO, WMO, WToO, WTrO

Diplomatic representation in the US: chief of mission : Ambassador Jorge G. PRIETO CONTI chancery: 2400 Massachusetts Avenue NW, Washington, DC 20008 telephone: (202) 483-6960 through 6962 FAX: (202) 234-4508 consulate(s) general : Miami and New York

Diplomatic representation from the US: chief of mission: Ambassador Robert E. SERVICE embassy: 1776 Avenida Mariscal Lopez, Casilla Postal 402, Asuncion mailing address: Unit 4711, APO AA 34036-0001 telephone: (21) 213-715 FAX: (21) 213-728

Flag description: three equal, horizontal bands of red (top), white, and blue with an emblem centered in the white band; unusual flag in that the emblem is different on each side; the obverse (hoist side at the left) bears the national coat of arms (a yellow five-pointed star within a green wreath capped by the words REPUBLICA DEL PARAGUAY, all within two circles); the reverse (hoist side at the right) bears the seal of the treasury (a yellow lion below a red Cap of Liberty and the words Paz y Justicia (Peace and Justice) capped by the words REPUBLICA DEL PARAGUAY, all within two circles)

Economy

Economy - overview: Paraguay has a market economy marked by a large informal sector. The informal sector features both reexport of imported consumer goods (electronics, whiskeys, perfumes, cigarettes, and office equipment) to neighboring countries as well as by the activities of thousands of microenterprises and urban street vendors. The formal sector is largely oriented toward services, but a large percentage of the population derive their living from agricultural activity, often on a subsistence basis. The formal economy has grown an average of 3% to 4% over the past five years. However, population has increased at 3% a year over the same period, leaving per capita income nearly stagnant. The WASMOSY government has continued to pursue its economic reform agenda - with mixed success - in close coordination with its partners in Mercosur (Southern Cone Common Market). Paraguay's ongoing integration into Mercosur offers potential for investment and growth. Although GDP grew by only about 1.5% in 1996, it is expected to grow at a higher rate in 1997.

GDP: purchasing power parity - $17.7 billion (1996 est.)

GDP - real growth rate: 1.5% (1996 est.)

GDP - per capita: purchasing power parity - $3,200 (1996 est.)

GDP - composition by sector: agriculture: 26.3% industry: 20.7% services: 53% (1995)

Inflation rate - consumer price index: 8.2% (December 1996)

Labor force: total: 1.8 million (1995 est.) by occupation: agriculture 45%

Unemployment rate: 5.3% (urban) (1995)

Budget: revenues : $1.25 billion (1995 est.) expenditures: $1.66 billion, including capital expenditures of $NA (1995 est.)

Industries: meat packing, oilseed crushing, milling, brewing, textiles, other light consumer goods, cement, construction

Industrial production growth rate: 1.3% (1995 est.)

Electricity - capacity: 6,927,500 kW (1995)

Electricity - production: 41.625 billion kWh (1995) note: exported about 37.9 million kW of electricity

Electricity - consumption per capita: 616 kWh (1995 est.)

Agriculture - products: cotton, sugarcane, soybeans, corn, wheat, tobacco, cassava (tapioca), fruits, vegetables; beef, pork, eggs, milk; timber

Exports: total value: $819.5 million (f.o.b., 1995) commodities: cotton, soybeans, timber, vegetable oils, meat products, coffee, tung oil partners: EU 37%, Brazil 25%, Argentina 10%, Chile 6%, US 6%

Imports: total value: $2.871 billion (c.i.f., 1995) commodities: capital goods, foodstuffs, consumer goods, raw materials, fuels partners : Brazil 30%, EU 20%, US 18%, Argentina 8%, Japan 7%

Debt - external: $1.3 billion (1996)