History of Paraguay (to 1811) Buenos Aires in 1580, the steady deterioration in the importance of Asunción contributed to growing political instability within the province. In 1617 the Río de la Plata Province was divided into two smaller provinces: Paraguay, with Asunción as its capital, and Río de la Plata, with headquarters in Buenos Aires. With this action, Asunción lost control of the Río de la Plata estuary and became dependent on Buenos Aires for maritime shipping. In 1776 the crown created the Viceroyalty of Río de la Plata; Paraguay, which had been subordinate to Lima, now became an outpost of Buenos Aires. Located at
Cinema of Paraguay "Felipe Canasto" (2010) and "Semana Capital" (2010). Funding remains a problem, however, and the market is dominated largely by American and Argentine films. In 2015 Paraguay submitted its first entry for consideration for the Academy Award for Best Foreign Language Film, Arami Ullon's documentary "Cloudy Times". In September 2017, the Film Academy of Paraguay chose its second candidate for the Oscar award, "Los buscadores" ("Gold Seekers") by Juan Carlos Maneglia and Tana Schémbori, directors of "7 Boxes". "Memory Exercises" by Paz Encina was also nominated for a Goya Award in Spain. In October 2017, the Senate approved with half sanction