Politics of Paraguay freely elected. The workplace of the President of Paraguay is the Palacio de los López, in Asuncion. The Presidential Residence is Mburuvichá Roga, also in Asuncion. Once presidents leave office, they are granted by the Constitution the speaking-but-non-voting position of Senator for life. In Paraguay, the post of First Lady is official, and thus the Office of the First Lady the Nation of the Republic of Paraguay was created. According to Paraguayan law, this office depends structurally and financially upon the Presidency of the Republic. The office exercises mainly social functions, but also those related to health, through the REPADEH
Economy of Paraguay Foreign investment in Paraguay nearly disappeared in 2002. After direct foreign investment of US$84 million in 2001, only US$9 million in investment came from abroad in 2002. This drop was largely the result of the financial crisis in Argentina and the banking collapse in Paraguay. Direct foreign investment rebounded in 2003, reaching US$90.8 million for the year. Paraguay has depended on the International Monetary Fund (IMF) and World Bank for economic development assistance. The World Bank has promised Paraguay assistance totaling US$325 million between 2003 and 2007. Projects currently underway in Paraguay aim to improve education, transportation, and rural development.