Gunmen assassinate Paraguay's Vice President Luis María Argaña.

Paraguay, officially the Republic of Paraguay, is a landlocked country located in the central region of South America. It is a unitary state with a territory composed of a capital district and seventeen departments. Its capital and largest city is Asunción. Paraguay is a presidential republic and a state governed by the rule of law. It is a founding member of Mercosur, along with Argentina, Brazil and Uruguay.

The vice president of Paraguay is the person with the second highest position in the executive branch of the Paraguayan government, after the president of Paraguay. The position of vice president was created with the Constitution of 1844, although it was the title given to ex officio members temporarily replacing the elected president in case of death or absence, and was not a position elected alongside the president.

Luis María del Corazón de Jesús Dionisio Argaña Ferraro was a Paraguayan politician and jurist. A prominent and influential member of the Colorado Party, he was a Supreme Court judge, unsuccessfully ran for the Colorado Party's nomination for president in the 1993 election and eventually was elected Vice-President in the 1998 election, but was assassinated seven months after assuming office in March 1999 at a time when it appeared likely that he would inherit the presidency from Raúl Cubas, who was on the verge of being impeached. The incident and its aftermath is known in Paraguay as Marzo paraguayo. An airport in Paraguay, Dr. Luis María Argaña International Airport, is named for him.