The Chaco War was fought between Bolivia and Paraguay over control of the northern part of the Gran Chaco region (known in Spanish as Chaco Boreal) of South America, which was thought to be rich in oil. It is also referred to as La Guerra de la Sed (Spanish for "The War of Thirst").
It was the bloodiest military conflict fought in South America during the 20th century, between two of its poorest countries, both having previously lost territory to neighbors in 19th-century wars. The war was fought for 2 years, 9 months and 3 days and ended on 12 June 1935. The ultimate peace treaties granted two-thirds of the disputed territories to Paraguay.
The war has been remembered by the country on several stamps, coins and banknotes in different forms. The 1 Gurani banknotes issued in the years 1936, 1943, 1952, 1962 and 1963 depicts a remembrance of the war. The banknotes feature a young soldier of Paraguay who had participated in the war. The banknotes also feature the National Emblem of the country.
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