from landlocked to land of opportunity paraguay country economic memorandum public disclosure authorizedpublic disclosure authorizedpublic disclosure authorizedpublic disclosure authorized — 2 —© 2024 international bank for reconstruction and development / the world bank 1818 h street nw, washington, dc 20433 telephone number : 1000-473-202; internet: www.worldbank.org some rights reserved.this work is a product of world bank staff with external collaborations. the findings, interpretations, and conclusions expressed herein do not necessarily reflect the opinions of the world bank, its executive directors, or the governments they represent. the world bank does not warrant the accuracy of the information presented in this study. nothing herein shall constitute or be considered to be a limitation upon or waiver of the privileges and immunities of the world bank, all of which are specifically reserved.this report has been prepared using data available as of may 1, 2023.rights and permissionsthis work is available under the commons attribution 4.0 igo license (cc by 4.0 igo) https:// creativecommons.org/licenses/by/4.0/. under the creative commons attribution license, you are free to copy, distribute, transmit, and adapt this work, including for commercial purposes, under the following conditions: any and all disputes arising under this license that cannot be settled amicably must be referred to mediation in accordance with the wipo mediation rules in force at the time of publication. if the request for mediation is not resolved within forty-five (45) days of such request, either you or the licensor may, pursuant to a notice of arbitration communicated by reasonable means to the other party, refer the dispute to final and binding arbitration to be conducted in accordance with the uncitral arbitration rules in effect at that time. the arbitral tribunal shall consist of one arbitrator and the language of the proceedings shall be english, unless otherwise agreed. the place of arbitration must be where the licensor has its seat. arbitration proceedings shall be conducted remotely (e.g., via conference call or written submissions) where possible or conducted at the world bank’s headquarters in washington, dc. attribution — please cite this work as directed: world bank. (2024) from landlocked to land of opportunity: paraguay country economic memorandum. washington, dc: world bank. license: creative commons attribution cc by 4.0 igo. translations — if you create a translation of this work, please include the following disclaimer along with attribution: this translation was not created by the world bank and should not be considered an official world bank translation. the world bank shall not be liable for any content or errors in this translation.accommodations — if you create an adaptation of this work, please include the following disclaimer along with attribution: this is an adaptation of an original work by the world bank. views and opinions expressed in the adaptation are the sole responsibility of the author or authors of the adaptation and are not endorsed by the world bank. — 3 —acknowledgments“from landlocked to land of opportunity”, a country economic memorandum for paraguay, was prepared under the leadership of marianne fay (country director for argentina, paraguay, and uruguay), matilde bordon (resident representative, paraguay) and robert taliercio o’ brien (advisor to the vice president, latin america and the caribbean). the team benefited from guidance from doerte doemeland (practice manager for macroeconomics, trade and investment for latin america and the caribbean, or mti lac) and william f. maloney (chief economist, latin america and the caribbean).pui shen yoong (economist, mti lac) and jose ernesto lópez cordova (lead economist, fci investment climate unit) led the task team, which consisted of consultants luis diego rojas (all chapters), reyes aterido (chapter 2), joaquin marandino peregalli (chapter 3) and jose miguel villascusa cerezo (chapter 3), and pablo valdivia zelaya (senior agribusiness specialist; chapter 4). other key contributors were andreas eberhard (economist, jobs) and henry eshemokhai aviomoh (young professional) and carlos moises pedrozo (consultant) to chapter 1; gustavo canavire bacarezza (senior poverty economist), andres federico martinez (senior financial sector specialist), jessica victor (consultant) and fausto patiño peña (economist) to chapter 2; jose signoret (senior economist) to chapters 1 and 3; niccolo comini (digital development specialist) to chapter 3; dionisio borda, belen servin, lar