International
Santiago Peña takes office as president of Paraguay, promises prosperity and international presence
August 16|
Economist Santiago Peña took office on Tuesday as Paraguay’s new president with a promise to promote prosperity for all in his country and lead the South American nation to become a protagonist on the international scene.
Peña, 44, became the youngest president since the return to democracy and maintains the continuity in power of the conservative Colorado Party in Paraguay, a country that has faced allegations of corruption in the spheres of power and is the last South American nation to maintain diplomatic relations with Taiwan.
“Success is to make all Paraguayans better off and for the world to witness the resurgence of a giant,” the new president said at a ceremony in the Paraguayan capital.
The inauguration ceremony was attended by leaders from neighboring countries, including Luis Inácio Lula da Silva of Brazil, Alberto Fernández of Argentina and Gabriel Boric of Chile, to whom he said he will seek to make Paraguay a key country for South American integration, and will therefore seek to improve the functioning of the Mercosur sub-regional bloc.
The ceremony was also attended by the King of Spain, Felipe VI, and the Vice President of Taiwan, William Lai, who traveled to Paraguay as part of a tour that will also take him to San Francisco and New York, at a time when China is seeking to increase the isolation of the autonomous island.
Regarding Taiwan, Peña said that their relationship is a sign of Paraguay’s policy of “alliances and cooperation with a geostrategic vision”.
Paraguay is one of 12 countries that still maintain diplomatic relations with Taiwan, mostly small and poor nations in Africa and the Caribbean.
“At the international level three global challenges generate geopolitical tensions: access to water, food security and energy sufficiency,” he said. “Paraguay being a power in those three major issues, we are called to be protagonists in the concert of nations.”
On the local level, he noted that his commitment is to “build a society where everyone can prosper,” he said, and pledged to generate at least 500,000 new jobs. In Paraguay, poverty reaches 24% of the little more than seven million inhabitants.
Peña is a US-trained economist who worked for the International Monetary Fund.
In recent months, the issue of corruption in power circles has shaken the South American country. The United States accused former president Horario Cartes (2013-2018) of corruption and froze his assets. Cartes, considered Peña’s political “godfather”, owns a conglomerate of companies ranging from tobacco to cattle ranching and large media outlets, and has denied the charges.
In his speech as new president, Peña thanked Cartes, current president of the Colorado Party, for what he called his perseverance “in building consensus and seeking agreements over differences”.
On corruption, Peña said he had “the conviction” that it is solved “with an independent, impartial and fast justice, with sufficient resources to ensure an adequate and homogeneous administration throughout the national territory”.
International
Air Canada suspends JFK flights amid soaring fuel costs linked to Iran conflict
Air Canada announced on Friday that it will suspend its flights from Montreal and Toronto to New York’s John F. Kennedy International Airport from June through late October, citing rising jet fuel costs driven by the conflict involving Iran.
“Since the beginning of the conflict with Iran, some routes and less profitable flights have become economically unviable, so we are making adjustments accordingly,” the airline said in a statement.
Despite the suspension, the carrier confirmed it will continue operating 34 daily flights from six Canadian cities to New York’s LaGuardia Airport and Newark Liberty International Airport.
Air Canada expects to resume its JFK operations after October 25.
Meanwhile, Iran announced the reopening of the Strait of Hormuz amid a temporary ceasefire in the region. However, jet fuel shortages could persist even if the truce holds.
Fuel accounts for between 25% and 30% of operating costs for most airlines, and carriers worldwide have responded to the crisis by raising fares and suspending select routes due to safety and profitability concerns.
International
UK braces for potential CO₂ shortage amid Middle East tensions
The government of United Kingdom is preparing contingency measures amid fears of a potential shortage of carbon dioxide (CO₂), which could impact the agri-food industry if the Strait of Hormuz remains blocked due to the ongoing conflict in the Middle East, The Times reported on Thursday.
According to the newspaper, officials assessed this scenario during a recent crisis meeting aimed at evaluating the consequences of a prolonged conflict, triggered on February 28 by joint attacks from United States and Israel against Iran.
Under this scenario, CO₂ supplies—primarily a byproduct of fertilizer production using natural gas—could fall by up to 18%, affecting multiple sectors including agriculture and food production.
The gas is widely used in the slaughter of pigs and poultry, as well as in extending the shelf life of packaged foods. Breweries could also face disruptions due to reduced availability.
“I don’t want to comment on a leak, but now that the information is out there, I hope people feel reassured knowing we are working on it,” said Peter Kyle, Secretary of State for Business and Trade, in remarks to Sky News.
While a drop in CO₂ supply is not expected to cause major shortages in supermarkets, it could limit product variety, The Times noted, citing access to internal government documents.
To mitigate the impact, authorities are considering prioritizing CO₂ supply for critical sectors such as healthcare and civil nuclear energy, where it is used in cooling systems for blood reserves, organs, vaccines, and electricity generation. The government may also request domestic producers to increase output.
Central America
El Salvador and Paraguay approve 2026–2028 cooperation program
The governments of El Salvador and Paraguay approved the 2026–2028 Cooperation Program, which includes six joint development projects, according to Salvadoran Vice Minister of Foreign Affairs Adriana Mira.
Mira stated that El Salvador will act as the “main provider of cooperation,” contributing five initiatives focused on road infrastructure, tourism, and local development. She also noted that one of the projects will be led by the Paraguayan side, although no further details were disclosed.
The agreement was reached during the Second Meeting of the Joint Commission on Technical and Scientific Cooperation between both countries.
According to Paraguay’s Ministry of Foreign Affairs, the First Meeting of the Political Consultation and Bilateral Coordination Mechanism was also held, with the participation of Vice Minister Víctor Verdún.
In an official statement, the Paraguayan government reported that both delegations agreed to identify mechanisms to promote competitiveness, economic growth, and market access. They also committed to signing agreements related to air transport cooperation.
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