Economist Santiago Peña, the candidate of Colorado (right), the party that has held the keys to power for nearly eight decades in Paraguay, won the presidential election, prevailing by a wide margin over the center-left main challenger Efrain Allegre, who had put the denunciation of endemic corruption at the center of his election campaign.
Peña, 44, a former IMF executive and former finance minister (2013-2018), was declared the winner with more than 42% of the vote, against Mr Allegre's 27.5%, based on official results Electoral Court, National Election Commission, with 99% of the votes counted.
Shortly before the result was made official, Peña declared victory, promising Paraguayans that he would put an end to “the fatalism that condemns us in our present. We are masters of our destiny, of our future.'
Peña was only a first-time candidate in a national election. In 2018, he was defeated in the Colorado caucus by the state's current leader, Mario Abdo Benitez. The outgoing president was not eligible to run for a second consecutive term. Santiago Peña will succeed him in August, for five years.
Peña pledged to work to reduce poverty, an undertaking that will be a major challenge of his term. Paraguay, a prosperous agro-industrial powerhouse that is the envy of the rest of Latin America ( expected to register growth of 4.5% in 2023), is characterized by marked inequality (poverty affects 24.7% of the population ). The new president promised during the election campaign that he would create 500,000 jobs and provide better access to the health system, which is fundamentally broken.