Horacio Cartes

Horacio Manuel Cartes Jara is a prominent Paraguayan politician and businessman. He served as the President of Paraguay from 2013 to 2018. Currently, he holds the position of president of the Colorado Party. His influence on the country is so significant that it created a political movement called Cartismo. This movement has shaped the direction of the Colorado Party and Paraguayan politics. Cartes is recognized as one of the wealthiest individuals in Paraguay. An affidavit from 2021 estimated his net worth at $490 million, or ₲3.6 trillion.

Before entering politics, Cartes built a massive business empire. He managed a conglomerate known as Grupo Cartes. This group included approximately two dozen different businesses. His interests spanned several industries, including tobacco, soft drinks, meat production, and banking. He also held leadership roles in sports. From 2001 to 2012, he was the president of Club Libertad, a football club. He also served as president of the Paraguayan Football Association during the 2010 FIFA World Cup qualification process.

Cartes's business career began with aviation and currency exchange. His father owned a company that held a Cessna aircraft franchise. Because of this, Cartes studied aviation mechanics in the United States. At age 19, he started a currency exchange business. This venture eventually grew into Banco Amambay, a major bank. Over his career, he bought or helped establish 25 companies. This included Tabesa, which is the largest cigarette manufacturer in Paraguay. He also owned a major fruit juice bottling company.

His early business years included several legal investigations. In 1986, he spent 60 days in jail during an investigation into currency fraud. Prosecutors accused him of obtaining a central bank loan at a preferential rate to move money through his exchange business. The case was eventually dropped. In 1989, he was jailed for seven months on similar charges but was later cleared by a court. In 2000, police seized a plane carrying drugs on his ranch. Cartes denied any involvement, stating the plane had made an emergency landing.

Cartes entered politics later in life, joining the conservative Colorado Party in 2009. He ran for president in 2013 as the party's candidate. His campaign focused on modernizing public enterprises and attracting international investment. He promised to raise private capital to improve the country's infrastructure. On April 21, 2013, he won the election with 45.80% of the votes. His inauguration on August 15, 2013, was a rare moment of peaceful power transfer in Paraguay's 202-year history.

During his presidency, Cartes faced various social and political challenges. In 2015, massive student protests occurred regarding the education budget. Students demanded that spending reach 7% of the national GDP, as requested by UNESCO. At the time, spending was only 3.9%. In 2017, tension rose when supporters attempted to pass a constitutional amendment for re-election. This led to protests and a fire at the Congress building. One protester was killed during the unrest. Cartes later admitted that attempting the amendment created an unnecessary climate.

In recent years, Cartes has faced serious international sanctions. Between 2022 and 2023, the United States government classified him as "significantly corrupt." U.S. officials accused him of involvement in transnational crime and terrorist organizations. Consequently, the United States imposed economic sanctions under the Magnitsky Act. These sanctions prohibit him from doing business with U.S. companies. They also block his access to U.S. banks. Four of his companies are also on the SDN List, which prevents them from accessing the U.S. financial system.