Paraguay is officially introduced as the site of the 2017 IDB Meeting

Paraguay was introduced this Saturday as the site of the 2017 Annual Meeting of the Inter-American Development Bank (IDB), during an event in which Minister of Finance Santiago Peña Palacios, who was accompanied by IDB President Luis Alberto Moreno, described the country as “South America’s best-kept secret.”

Peña highlighted our country’s economic progress during the past few years, particularly in the area of poverty reduction, and said that he was “proud” to welcome another Annual Meeting of the IDB.

The formal presentation took place at the Baha Mar Convention Center in Nassau, The Bahamas, where the IDB’s Annual Meeting is being held this weekend.

Next year’s meeting will be in Asunción, which already hosted a meeting of the multilateral organization in 1965.

Moreno mentioned the macroeconomic “stability” that Paraguay has achieved in recent years and its solid growth rate.

Despite the slowdown that Latin America has experienced recently, in the past few years Paraguay has grown at a rate of over 3%, and in 2016, it is expected to grow by 3.8%.

The Annual Meeting of the IDB is the multilateral bank’s main event, which brings together representatives from its 48 member countries, including the Ministers of Finance of its 26 borrowing member countries.

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