Central Bank of Paraguay on the country's need to diversify

Jorge Raúl Corvalan, governor of the Central Bank of Paraguay

In his two years as governor of the Central Bank of Paraguay, Jorge Raúl Corvalan has presided over a dramatic cut in interest rates (though these are now rising again to prevent the economy overheating) and increased access to banking services and mortgages. The country has stepped up bank regulation and is enjoying increasing GDP with no fiscal deficit. Mr Corvalan speaks to The Banker about the need to diversify Paraguay's economy and the measures he is taking to improve training for central bank staff. Writer Silvia Pavoni