Foreign Currency: BB/Stable/B Local Currency: BB/Stable/B For further details see Ratings List. We expect continuity in key economic policies following the transition from President Horacio Cartes to President-elect Mario Abdo Benitez. Paraguay's resilient GDP growth and favorable external position are balanced by institutional bottlenecks and continued economic reliance on commodities. We are affirming our 'BB/B' long- and short-term sovereign credit ratings on Paraguay. The stable outlook reflects our expectation of continued good GDP growth, moderate public debt levels, and small current account deficits in the coming three years, balanced by weak public institutions and structural challenges that continue to hamper the effectiveness of policymaking. On June 25, 2018, S&P Global Ratings affirmed its 'BB/B' long- and short-term sovereign credit ratings
