, IDA, IFAD, IFC, IFRCS, ILO,
IMF, IMO, Intelsat, Interpol, IOC, IOM, ISO (correspondent), ITU,
LAES, LAIA, Mercosur, OAS, OPANAL, OPCW, PCA, RG, UN, UNCTAD,
UNESCO, UNIDO, UPU, WCL, WHO, WIPO, WMO, WToO, WTrO

Diplomatic representation in the US:
chief of mission: Ambassador (vacant)
chancery: 2400 Massachusetts Avenue NW, Washington, DC 20008
consulate(s) general: Los Angeles, Miami, New Orleans, New York

Diplomatic representation from the US:
chief of mission: Ambassador Maura A. HARTY
embassy: 1776 Avenida Mariscal Lopez, Casilla Postal 402, Asuncion
mailing address: Unit 4711, APO AA 34036-0001

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 the activities of thousands of microenterprises and urban street
vendors. The formal sector is largely oriented toward services. 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 about 3% over the past six years,
but GDP declined in 1998. However, population has increased at about
the same rate over the same period, leaving per capita income nearly
stagnant. The new government of Raul CUBAS Grau was pursuing an
economic reform agenda, albeit with limited success because of
in-fighting in the ruling party and resistance from the opposition.

GDP: purchasing power parity--$19.8 billion (1998 est.)

GDP--real growth rate: -0.5% (1998 est.)

GDP--per capita: purchasing power parity?$3,700 (1998 est.)

GDP--composition by sector:
agriculture: 27%
industry: 30%
services: 43% (1997)

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