LGBT rights in Paraguay binding on Costa Rica and sets a binding precedent for other Latin American and Caribbean countries including Paraguay. There is currently a lawsuit to recognize same-sex marriage that relies on the IACHR ruling pending with the courts. Same-sex sexual activity has been legal in Paraguay since 1880. The age of consent in Paraguay is 16 for homosexuals and 14 for heterosexuals. During the dictatorship of Alfredo Stroessner from 1954 to 1989, LGBT people faced heavy persecution and were forced to maintain secret lives. On 1 September 1959, a fire broke out in the capital city of Asunción. Bernardo Aranda, a
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.