Paraguay's president to receive Latin Trade Group award

Latin Trade Group on Tuesday announced the president of Paraguay, Horacio Cartes Jara, will be presented with the Innovative Leader of the Year Award at the 21st annual BRAVO Business Awards on Oct. 29 in Miami.

The Innovative Leader of the Year Award recognizes actions that take Latin American countries to a higher stage of development using new strategies or creative approaches to promote growth.

"Paraguay's economic growth will likely outperform that of the majority of Latin American and Caribbean countries in the next five years,” Latin Trade Group CEO Rosemary Winters said. “That is not a matter of chance but of creative and orderly economic management, a task that President Cartes has devoted his time and energy to achieve. We are thrilled to honor his efforts."

The award specifically acknowledges Paraguay's progress towards implementing the reforms approved in 2013, including new income tax rulings, a fiscal responsibility law, a revision of the sovereign bond law and a public-private partnership structure designed to generate infrastructure investment.

"Innovation, the theme of the award, and of the 2015 Latin Trade Symposium that we will hold in Miami prior to the BRAVO Business Awards ceremony, is one of the key components of success in the region,” Winters said. “It is perhaps, along with inclusion, the most powerful element in the making of a better future for millions of Latin Americans.”

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