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 Most of Paraguay's trade takes place with Uruguay, Brazil and Argentina. In 2002 Paraguay conducted more than US$400 million in trade with Argentina and nearly US$800 million with Brazil. Paraguay is also a member of the Inter-American Development Bank, Latin American Integration Association, and Latin American Economic System and a signatory to the agreement creating the South American Community of Nations. In 2004 Paraguay signed an energy cooperation agreement with Venezuela to purchase oil and petroleum. Venezuela agreed to concessional financing that allowed Paraguay to pay over a 15-year period at a nominal interest rate. Imports totaled US$3.3 billion in