Working remotely for a U.S. company while in Parguay?

There are folks who do this, although the most reliable internet connections are within the greater Asuncion area or other larger metro areas like Cuidad del Este or Encarnacion.   You can visit the FB expat site "Expats in Paraguay" to connect with these folks for specifics of costs, speeds and reliability.

I work remotely for a US Tech company from Paraguay. I have Fiber optic line with good upload speed for solid communications. It's a business premium plan but worth the money. They guarantee 99.8% availability and it's the only Telecom service that can do this here. I've tested and tried all operators but when it comes to business (specially in the case of telecommuting) this is the best I could find.

Operator: Tigo PY
Plan Business Premium
Service: Fiberoptic
Speed 2mb down 2mb up
Cost: 100 USD monthly
Availability: 99.8%

I've been using this service for the past 4 years - the only time it goes out - Electric Blackouts

I have a unlimited data plan through Personal PY that i use to tether when electricity goes out (great back up)