RE: Paraguay, I think it's a quaint little country where people are genuinely nice despite the people being so poor. I got my PR and Cedula through Jeronimo Finestra, which is what most gringos do and at the time, my Spanish was quite basic.
Basically, the intel I had received is in order to obtain citizenship, a bribe of circa USD 10K is required to some shady government administrator that no one is able to be named and to justify your ties to the country, you're required to invest USD 30K+ into the country whether it's agricultural land or otherwise. This information I received from Edwin (who works with Jeronimo Finestra) and you could probably reach him yourselves via Whatsapp on +595 981 49524. He has some cattle contracts up for sale if you're looking for a cash flow investment, which I have not personally taken on board. Also, if you're new to the country, you can send him a message and he can take you around to get to know the city and interior a bit more for USD 150. All the guys operate out of Cafe Martinez, Catedral so if you hang out there enough on the weekdays, just get la dueńa to introduce you.
Statistically, after doing significant research online and speaking to people and forums, I could not find anyone including Americans who held PR for 10+ years and received citizenship. Had it happened, there would be massive celebrations everywhere like "Hallejuah, someone got it" but no. In terms of time spent in the country and capital investment required in hope to get naturalisation in Paraguay, it seems like an excessively risky just so you can hope to get it and there has been no historical evidence to prove anyone from a Western developed nation has done so.
There is greater chance in getting Panamanian citizenship than Paraguayan because their data is published on their website under "Naturalización" here:
https://www.migracion.gob.pa/. After evaluating the aprovada data, it appears that the average time spent for most naturalisation applicants in Panama is 10+ years. Some food for thought before committing yourself to anyone country.
After getting the Paraguayan PR, I am happy to have experienced the culture and warmth the culture has to bring from a climatic and people oriented basis. In terms of entertainment, I would think that the only decent places to visit in Asuncion would be Juan Valdez Cafe downturn or in VIlla Morra and aside from that there's nothing really to do. If you have time, you could do the tourist stuff like visit Ciudad Del Este and Foz De Igacu for some cheap eats or shopping.
The Paraguay PR/ Cedula acts as an excellent bolthole in a world of declining food security with major countries/ economies experiencing severe disasters like droughts, floods and storms so having this will definitely come in handy in the next few years as Paraguay remains self-sufficient enough to produce its own food. Secondly, as food prices begin rising, it may trigger social and civil unrest in your other residences so from a physical security standpoint, Paraguay offer protection from this because the people are so passive, peaceful and adopt the manańa attitude and their vegetables and natural produce is so plentifully, their biggest problem is actually a lack of distribution, storage and refrigeration so even at current, a large majority of the food simply gets wasted and spoiled because of the heat.