History of Paraguay land to every Paraguayan family. He reopened the University, implemented monetary and municipal reforms, balanced the budget, financed the public debt, increased the capital of the Central Bank of Paraguay, and drew up plans to build highways and public works with the loan from the United States. Estigarribia faced sharp criticism from the conservative Catholic intellectuals and their newspaper "El Tiempo" as well as leftist "febrerista" student activists in the university. After anti-government demonstrations broke out in Asunción, the army suppressed them and arrested Catholic and "febrerista" leaders. This led to a withdrawal of Colorado support for Estigarribia, and an
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.