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| 1992, June 20 |
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| A new constitution, calling for democracy, was approved. | 1 |
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| 1993, May 9 |
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| Juan Carlos Wasmosy, a wealthy neoliberal and candidate of the Colorado Party, was elected president in the country's first multiparty elections. | 2 |
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| 1997, Oct. 3 |
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| Pres. Juan Carlos Wasmosy ordered the arrest of Lino Cesar Oviedo, a former army chief selected to be the ruling Colorado Party's candidate in the upcoming presidential election, citing “accusations he (Oviedo) has made against the president.” | 3 |
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| 1998, May 10 |
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| Raúl Cubas Grau was elected president of Paraguay following a banking scandal that involved former president Wasmosy and his entire staff, including the Central Bank president. | 4 |
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| May 11 |
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| Observers from OAS approved allegedly fraudulent elections in Paraguay, internationally legitimating the new government. | 5 |
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| Aug. 18 |
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| Gen. Oviedo, whom Cubas succeeded as head of the corrupt Colorado Party, was freed from jail by the newly inaugurated president Cubas. | 6 |
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