Paraguay’s business-friendly Colorado Party keeps presidency

ASUNCION: The candidate from Paraguay’s ruling Colorado Party won Sunday’s presidential election, according to official results with 96 per cent of ballots counted, pointing to another five years of pro-business policies in the major soy producer.

The country’s elections authority said Mario Abdo, a 46-year- old former senator who campaigned on an anti- corruption platform, had an “irreversible” advantage over his main rival, Efrain Alegre, a lawyer from the centre-left Ganar coalition.

“My administration will be committed to gaining the confidence of those who did not accompany us,” Abdo said.

Abdo had 46.49 per cent of the vote to Alegre’s 42.72 per cent, the head of Paraguay’s elections tribunal, Jaime Bestard, said on television.

“The president-elect of Paraguay is Mario Abdo,” Bestard said.

Abdo supports current low-tax policies aimed at stimulating foreign investment and agricultural production in the world’s No. 4 soybean exporter and a major supplier of beef.

The margin of victory was much tighter than indicated by pre- election opinion surveys, which gave Abdo a voter intention advantage of 18 to 20 points.

Alegre said he would not concede the race until all ballots were counted and confirmed. — Reuters