located in located_in South America Paraguay A landlocked country in South America. It lies on both banks of the Paraguay River, bordering Argentina to the south and southwest, Brazil to the east and northeast, and Bolivia to the northwest, and is located in the very heart of South America. Paraguay consists of seventeen departments and one capital district (distrito capital). Each department is divided into districts. LanguaL curation note: US FDA 1995 Code: PY Country South America Paraguay A landlocked country in South America. It lies on both banks of the Paraguay River, bordering Argentina to the south and southwest, Brazil to the east and northeast, and Bolivia to the northwest, and is located in the very heart of South America. Paraguay consists of seventeen departments and one capital district (distrito capital). Each department is divided into districts. LanguaL curation note: US FDA 1995 Code: PY