Santiago Peña, a conservative former central banker, won Paraguay’s presidential elections Sunday after campaigning against China and for working extensively in the United States
Pena received about 43% of the vote, defeating challengers from the left and center-right. Pena’s Colorado Party has held power for 71 of the past 76 years, despite broader leftward shifts in Latin America.
The United States congratulates the people of Paraguay on successfully holding free and fair elections on April 30. We look forward to working with President-elect Santiago Peña @SantiPenap and his government to advance our shared priorities. https://t.co/ieM645T7sg
— Matthew Miller (@StateDeptSpox) May 1, 2023
Contrary to his top rival, Peña promised during his campaign to maintain diplomatic ties with Taiwan. Paraguay is one of only 13 countries in the world that maintains formal diplomatic relations with Taiwan, and has faced increasing pressure from Beijing to sever those ties.
Peña has extensive ties to elite American institutions. He holds a master’s degree from Columbia and worked as an economist for the International Monetary Fund (IMF) in Washington, D.C.
His relationship with the U.S. could be complicated by his close links to former Paraguayan President Horacio Cartes. Peña is considered a protégé of Cartes, whom he thanked first in his victory speech Sunday.
The Biden administration sanctioned Cartes in January for allegedly paying out millions of dollars in bribes during his time in power and forging ties with the Islamic militant group Hezbollah. The U.S. accused Cartes of having “a concerted pattern of corruption,” but he has denied any wrongdoing.
Peña has stood by Cartes, saying he can’t understand why the U.S. is accusing Cartes of such corruption: “I think this is going to be one of the great mysteries, along with: Could it be that man reached the moon? Or who assassinated President Kennedy?” he told The New York Times on Friday. (RELATED: Study Reveals How China Became The World’s Biggest Loan Shark)
Peña will take office on Aug. 15.