Immigration to Paraguay to the 2002 census, 84,2% of immigrants in Paraguay come from Brazil and Argentina. The first Europeans to arrive in what is now Paraguayan territory were Spaniards who left a palpable cultural heritage even today. The government of Carlos Antonio López was marked by a period of international openness including immigration and attracting settlers to populate the country. Geographically, Paraguay can be divided into two parts: The Chaco or Western Region, and the Eastern Region, where Asunción is located, as well as the other main cities of the country. The Chaco is the largest region by area with about 60%
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.