Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Paraguay senator with dictatorship ties to run for president

Published 12/17/2017, 09:41 PM
Updated 12/17/2017, 09:50 PM
© Reuters. Paraguay's Presidential pre-candidate Mario Abdo Benitez makes declarations to the media after casting his vote on primary elections  in a polling station in Asuncion

ASUNCION (Reuters) - Paraguayan Senator Mario Abdo Benitez, a lawmaker with ties to a former Paraguayan dictator, won the ruling Colorado Party's presidential primary on Sunday in a sharp rebuke for President Horacio Cartes, the party's flagbearer.

Abdo, the son of former dictator Alfredo Stroessner's private secretary, beat out ex-finance minister Santiago Pena, a young economist and Cartes' hand-picked successor, in a surprise outcome that followed increasing dissatisfaction with Cartes, who has been in power since 2013.

Abdo will face lawyer Efrain Alegre, who won the opposition Liberal Party's nomination, in the April presidential election in the land-locked nation of 6.8 million, long one of South America's poorest.

The Colorado party has governed Paraguay for nearly 70 years, including during Stroessner's 1954-1989 dictatorship, with a brief interruption when leftist Fernando Lugo was elected in 2008 and impeached in 2012.

With over 96 percent of primary votes counted, Paraguay's electoral authority said that Abdo had received 50.9 percent of the vote. Pena had garnered 43.3 percent.

"The arrogant establishment has been defeated today and forever ... we all have scars but are urging unity for the Colorados and later, Paraguay," Abdo told his supporters following his victory.

Cartes, a former soft-drink and tobacco executive, has run a low-tax policy that investors credit with spurring one of the fastest economic growth rates in Latin America. But his attempt to change laws enabling him to run for re-election spurred protests and was widely criticized.

Abdo, known in Paraguay by his nickname "Marito," has been a harsh critic of Cartes, and aligned with the opposition in Congress to fight his proposed re-election amendment.

© Reuters. Paraguay's Presidential pre-candidate Mario Abdo Benitez makes declarations to the media after casting his vote on primary elections  in a polling station in Asuncion

More than one million members of the Colorado Party voted on Sunday, an estimated turnout of 50 percent.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.