Paraguayan President Santiago Peña delivered the Canning Lecture to a group of politicians, journalists, business leaders and academics on Wednesday, July 16 at 116 Pall Mall, London.
The Canning Lecture is an event hosted annually by Canning House, a British not-for profit and non-governmental organisation dedicated to the promotion of ties between the UK, Iberia and Latin America, which sees a Latin American or Iberian head of state give a speech to a British audience about the state of their nation’s affairs and opportunities for closer collaboration with Britain.
Previous speakers have included former Peruvian President Alberto Fujimori, former Ecuadorian President Rafael Correa and, most notably, former Venezuelan President Hugo Chávez.
President Peña’s appearance, however, marked the first time a Paraguayan President had attended the illustrious event as a speaker.
Peña, elected by a wide margin in 2023, leads the conservative Colorado party, which has dominated Paraguayan politics since the late 20th and into the early 21st Century. Every Paraguayan President since 1948 bar one, Fernando Lugo of the Christian Democrat Party (2008-2013), has belonged to the Colorado party.
During Peña’s tenure, the Paraguayan economy has grown significantly. At the beginning of 2025, Paraguay had the highest GDP growth of any Latin American nation.
However, Peña’s critics argue that he has not done enough to tackle corruption and that previous President Horacio Cortés (2013-2018), who himself has been sanctioned by the United States due to alleged corruption, holds too much influence over Peña.
According to the 2024 report of Freedom House on Paraguay, “corruption remains widespread” and “several cabinet ministers have links to organised crime”.
Peña’s speech to Canning House was filled with optimism about the future of his country and pride in what his government had achieved thus far, particularly on the economic front.
“The country is moving in the right direction […] we are in a process of expansion, of economic growth,” Peña told attendees. He also stressed that Paraguay is a rising star on the international stage and welcomes foreign investment, tourism and partnerships.
Peña highlighted Paraguay’s recent acquisition of investment grade status in 2024, his government’s creation of a housing financing facility to improve the affordability of homes for Paraguayans, and the expansion of free school meals to 100% of Paraguayan children as successes of his administration.
According to Statista, the Paraguayan housing market is indeed becoming more affordable for first-time buyers; political stability and a favorable investment climate, along with the rise of affordable housing projects, have made homeownership more accessible to a wider population.
La Nación, a Paraguayan daily newspaper, also corroborates Peña’s claims about the success of the free school meal program. 980,000 Paraguayan students at more than 7,000 educational institutions in Paraguay will reportedly have access to free school meals during the school year thanks to the program.
President Peña delivers the Canning Lecture.
Image Credit: Raphael McMahon
During the speech, President Peña also keenly praised his predecessors, highlighting their work in helping to secure Paraguayan economic growth and facilitate the South American nation’s reliance on clean, renewable energy.
The only feedback that he had for his forerunners was that they had been too quiet, “too shy” about Paraguay’s achievements. It is high time, he argued, that the record is set straight and that investors, tourists and potential political partners recognise Paraguay’s promise.
Peña outlined the durable foundations for Paraguay’s long-term stability. According to the head of state, Paraguay’s complete reliance on renewable electricity – 100% of Paraguay’s electricity comes from renewable sources, mainly in the form of hydropower from the Itaipú Dam – capacity for food production thanks to its high density of arable land, commitment to democracy since the end of Alfredo Stroessner’s dictatorship in 1989, and young population mean that its environmental, economic, political and demographic futures look bright.
Featured Image: The inauguration of President Peña in Asunción, Paraguay.
Image Credit: Office of the President, Republic of China (Taiwan) via Wikimedia Commons
License: Creative Commons Licenses
