LatinNews Daily - 9 September 2024

*The governments of Paraguay and Argentina have reached an understanding regarding the collection of tolls by Argentina on the Paraguay-Paraná waterway. Paraguay’s foreign ministry announced that Paraguay’s centre of fluvial and maritime shipowners (Cafym) and Argentina’s general ports administration had agreed to adjust the toll rate from US$1.47 per net register tonnage (NRT) to an interim rate of US$1.20 per NRT to be applied for a period of six months from September 2024 until 28 February 2025. The two governments also agreed on a compensation measure for Paraguayan vessels that paid the previous, higher toll rate, agreeing that an adjusted rate of US$0.80 per NRT would be applied retroactively from February 2023, when the toll came into force, until August 2024. The toll on the waterway has been an ongoing source of tension between Paraguay and Argentina. The Paraná River is a crucial export route for Paraguay, which initially challenged the payment of the toll, claiming it contravened the Santa Cruz de la Sierra agreement on the use of the waterway. The Argentine government states the toll is necessary for the upkeep of the waterway.