Santiago Peña beats a centre-left rival, extending the conservative Colorado Party's political grip.

Santiago Peña is a Paraguayan economist and politician who was the presidential candidate for the Colorado Party in the 2018 Paraguayan general election. The Colorado Party is the country's ruling party, and Peña was selected as its candidate by the outgoing president, Horacio Cartes.

Peña previously served as the Minister of Finance under Cartes from 2015 to 2017. During his time as finance minister, Peña was credited with helping to stabilize Paraguay's economy and reduce poverty in the country. Prior to his political career, Peña worked in the private sector as an economist and financial analyst.

In the 2018 election, Peña faced off against Mario Abdo Benítez of the conservative National Republican Association (ANR) party, also known as the "Honor Colorado" faction of the Colorado Party. Benítez ultimately won the election with over 46% of the vote, while Peña received just under 43%. Despite his loss, Peña remains a prominent figure in Paraguayan politics and the Colorado Party.