Paraguay's conservatives score big election win, defusing Taiwan fears

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Paraguay's conservatives score big election win, defusing Taiwan fears
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Paraguay's ruling candidate Santiago Pena scored a big win in the country's presidential election, tightening the conservative Colorado Party's political grip in the country and defusing fears about the end of diplomatic ties with Taiwan

, 44, won the country's presidential election on Sunday, tightening the ruling Colorado Party's political grip in the country and defusing fears about the end of diplomatic ties with Taiwan.

The election result leaves Pena facing a challenge to rev up Paraguay's farm-driven economy, shrink a major fiscal deficit and navigate rising pressures from soy and beef producers to ditch Taiwan in favor of China and its huge markets. Dry weather helped voter turn-out, analysts said, with queues to cast ballots long after polling stations were formally meant to close at 4 p.m. .

"Look at all the young people taking part - that shows people want change," the 79-year-old retired schoolteacher told Reuters. "They need jobs and I need a better pension."

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