Banking Regulation 2025

PARAGUAY Law and Practice Contributed by: Juan Fiorio, Alejandra Corrales and Jean Saavedra, Fiorio, Cardozo & Alvarado

Fiorio, Cardozo & Alvarado (FCA) was estab - lished in 1981 and has since played a key role in some of the most significant transactions in Paraguay. The firm offers comprehensive legal services with a dedicated team of profession - als specialising in all aspects of business law. FCA provides legal advice to both local and in - ternational companies, addressing their needs on a regular basis as well as through tailored, case-specific advice. The firm’s reputation is built on an unwavering commitment to integ - rity and professionalism, striving to deliver so -

lutions that address the challenges posed by technological advancements and market evolu - tion. FCA goes beyond traditional legal advisory services, taking the time to understand each client’s business to provide strategic guidance and support in achieving their objectives. With over four decades of experience, FCA takes pride in sharing its expertise and continuously refining its innovative and pioneering practices, which have earned the enduring trust and rec - ognition of its clients.

Authors

Juan Fiorio is a senior partner at Fiorio, Cardozo & Alvarado, where he leads the firm’s banking and finance team. With over 40 years of experience, he has a distinguished background

Alejandra Corrales is a member of the corporate and finance team at Fiorio, Cardozo & Alvarado, bringing substantial local and international experience from her work in

in advising both local and international clients on regulatory compliance, financial structuring, and corporate governance. Juan holds a law degree from the Catholic University “Nuestra Señora de la Asunción” in Paraguay. He has extensive experience in handling complex transactions, including syndicated loans, corporate lending, and financial restructuring, and is recognised for his strategic approach in navigating regulatory challenges in the Paraguayan banking sector. Juan’s dedication to providing practical, forward-thinking solutions has made him a trusted adviser for financial institutions and government entities alike, helping clients achieve sustainable growth in an evolving market.

both the United States and Paraguay. She holds a Master’s in Corporate Governance and Practice from Stanford Law School and regularly advises multilateral organisations, government entities, and local financial institutions. Her expertise spans complex financial transactions, including syndicated loans, project finance, bond issuances, asset finance structuring, and mergers and acquisitions in the financial sector. This comprehensive approach ensures that clients receive expert support at every stage of their operations.

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