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ILO, IMF, IMO, Interpol, IOC, IOM, ISO (correspondent), ITU, LAES, LAIA, Mercosur, MIGA, MINUSTAH, MONUC, NAM (observer), OAS, ONUB, OPANAL, OPCW, PCA, RG, UN, UNCTAD, UNESCO, UNIDO, UNMEE, UNMIL, UNOCI, UPU, WCL, WCO, WHO, WIPO, WMO, WToO, WTO Diplomatic representation in the US: chief of mission: Ambassador James SPALDING Hellmers consulate(s) general: Kansas City, Los Angeles, Miami, New Orleans, New York FAX: [1] (202) 234-4508 telephone: [1] (202) 483-6960 through 6962 chancery: 2400 Massachusetts Avenue NW, Washington, DC 20008 Diplomatic representation from the US: chief of mission: Ambassador John F. KEANE embassy: 1776 Avenida Mariscal Lopez, Casilla Postal 402, Asuncion mailing address: Unit 4711, APO AA 34036-0001 telephone: [595] (21) 213-715 FAX: [595] (21) 213-728 Flag description: three equal, horizontal bands of red (top), white, and blue with an emblem centered in the white band; unusual flag in that the emblem is different on each side; the obverse (hoist side at the left) bears the national coat of arms (a yellow five-pointed star within a green wreath capped by the words REPUBLICA DEL PARAGUAY, all within two circles); the reverse (hoist side at the right) bears the seal of the treasury (a yellow lion below a red Cap of Liberty and the words Paz y Justicia (Peace and Justice) capped by the words REPUBLICA DEL PARAGUAY, all within two circles) Economy Paraguay Economy - overview: Paraguay has a market economy marked by a large informal sector. The informal sector features both reexport of imported consumer goods to neighboring countries as well as the activities of thousands of microenterprises and urban street vendors. Because of the importance of the informal sector, accurate economic measures are difficult to obtain. A large percentage of the population derives their living from agricultural activity, often on a subsistence basis. The formal economy grew by an average of about 3% annually in 1995-97; but GDP declined slightly in 1998, 1999, and 2000, rose slightly in 2001, only to fall again in 2002. On a per capita basis, real income has stagnated at 1980 levels. Most observers attribute Paraguay's poor economic performance to political uncertainty, corruption, lack of progress on structural reform, substantial internal and external debt, and deficient infrastructure. GDP: purchasing power parity -
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