Eusebio Ayala, Paraguay Eusebio Ayala, Paraguay Eusebio Ayala is a city and district of the Cordillera Department, Paraguay. It is named after Eusebio Ayala, a former President of Paraguay. It is located approximately 72 km of the city of Asuncion, capital of the Republic of Paraguay. This city lies on the right bank of the stream Piribebuy, being axis road from where routes depart inside and outside the department. It is well known for being the birthplace of the famous Chipa Barrero and for being located next to the fields of Acosta Ñú, where children were slain in a battle during the Paraguayan
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.