With Paraguay having one of the smallest economies in Latin America, its business lawyers have had limited opportunities to tackle complex work. But a number of high level transactions during 2012 saw the countries’ leading business firms flex their deal-making skills, and the 13 per cent average increase in headcount is a reflection of firms’ expectations that the Paraguayan economy should continue to grow.

Ferrere Abogados (Paraguay), a branch of Uruguay’s largest firm, leapt from 12 lawyers to 18, an increase of 50 per cent that builds on similar growth in 2011.

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