President of Paraguay Mburuvichá Roga, also in Asunción. Once Presidents leave office, they are granted by the Constitution of Paraguay the speaking-but-non-voting position of Senator for life. The current President of Paraguay is Mario Abdo Benítez, since 15 August 2018. President of Paraguay The President of Paraguay (), officially known as the President of the Republic of Paraguay (), is according to the Constitution of Paraguay the head of the executive branch of the Government of Paraguay, both head of state and head of government. His honorific title is "Excelentísimo Señor". Under the 1992 constitution, the President is limited to a single five-year
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