Santiago Peña, the candidate of the ruling Colorado Party, won Paraguay’s presidential election on Sunday. With a big victory for the 44-year-old economist, the right-wing party strengthens its long-standing grip on power in the South American country. This is reported by Reuters news agency.
Peña, a former finance minister, received 42.7 percent of the vote, when more than 99 percent of the votes had been counted. That was more than 15 percentage points more than his centre-left opponent Efrain Alegre. Alegre, 60, who had a slight lead ahead of the polls according to some polls, has admitted defeat.
The Colorado Party has ruled Paraguay for 70 of the past 75 years. The party has a powerful campaign machine, despite growing dissatisfaction among some voters over the economic slowdown and allegations of corruption. Candidates from the party and other right-wing parties also performed well in gubernatorial and congressional elections.
Ties with Taiwan
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Peña’s win has been met with relief by Taiwan. Peña has pledged to maintain Paraguay’s longstanding relations with Taiwan. Alegre wanted to switch to ties with China, a major importer of the agricultural products that make up an important part of the Paraguayan economy, such as soy and beef. Paraguay is one of thirteen countries worldwide, and the only country in South America, to recognize Taiwan and maintain diplomatic relations with the island.
Peña faces the task of reviving Paraguay’s economy, reducing a massive budget deficit and facing pressure from the agricultural lobby to switch to relations with China. Current president Mario Abdo congratulated him as a “president-in-waiting”. The leaders of Brazil and Argentina also congratulated Peña.
