From the Central Bank of Paraguay to the UK: My Chevening Scholarship Journey to the University of Manchester

Hi! I'm Marcos Cáceres, born and raised in San Lorenzo, Paraguay. Growing up, I was always fascinated by how economies work and how policies can shape the lives of millions. That curiosity led me to study Economics at the National University of Asunción, where my passion for data, policy-making, and development grew even stronger. After gaining professional experience at the Central Bank of Paraguay, I realized that to make a bigger impact, I needed to further strengthen my academic and quantitative skills. That's why I decided to pursue a master’s in economics at the University of Manchester in the United Kingdom — to deepen my knowledge and prepare myself for future leadership roles back home.

Chevening Scholarship Details

While researching scholarships, I stumbled upon the Chevening Scholarship — a UK government-funded program that offers full scholarships to future leaders. The more I read about it, the more I realized: this was exactly the kind of opportunity I needed. It wasn't just about studying; it was about joining a global network of changemakers.

I eventually secured the Chevening Scholarship, which fully funded my studies at the University of Manchester. Chevening not only covered my full tuition fees but also living expenses, travel costs, and visa fees, truly making my studies in the UK financially accessible. I was also considered for other funding opportunities, but decided to commit to Chevening because of its unique emphasis on leadership, community building, and long-term national contribution.

Educational Background

At the National University of Asunción, I worked hard and graduated with one of the top GPAs in my class. But it wasn’t just about grades — I immersed myself in research, interned at the Research Department of the university, and later secured a permanent role at the Central Bank of Paraguay after a competitive process. Those experiences built a strong academic and professional foundation, giving me a deep understanding of both economic theory and real-world policy-making, but I knew I wasn't done learning. I wanted to dive deeper into the world of monetary policy and data-driven decision-making. That’s when I set my sights on pursuing a master's degree abroad.

How Did You Prepare to Apply to the University of Manchester?

Finding the right universities and programs took months of research. I spent evenings and weekends browsing university websites, comparing course structures, and reading student reviews. I looked for programs that had a strong focus on quantitative economics and policy analysis. I also reached out to current students and alumni through LinkedIn to get a better sense of the programs I was interested in.

When it came to standardized tests, I needed to take the TOEFL exam. I self-studied using ETS TOEFL books, YouTube videos and took online practice tests. I especially focused on improving my writing and speaking skills, knowing that those sections would require a lot of precision and practice.

How Did You Prepare to Apply for Chevening Scholarships?

Applying for the Chevening Scholarship was like telling the story of my life — but with a purpose. I spent several months drafting and refining my essays, making sure to highlight my leadership experiences, career goals, and how a UK education would help me achieve them. I didn’t just talk about past achievements; I tried to show a vision for the future. I also asked for feedback from mentors and colleagues, revising my essays multiple times until my story felt authentic, clear, and powerful.

What Do You Think Made Your Application Stand Out?

Looking back, I think what truly made my application stand out was authenticity. I didn’t try to fit into a mold; I stayed true to my experiences and aspirations. I showed how my journey — from San Lorenzo to the Central Bank, and beyond — was deeply connected to my dream of making a real difference back home. I also made sure my career goals were crystal clear and realistic.

What Would You Have Done Differently if You Were Going Through the Process Again?

If I could do it all over again, I would have started building connections with current scholars and alumni much earlier. Hearing their insights and advice would have made my application even stronger and the entire process less overwhelming. Networking can offer incredible perspectives that you won't find on official websites.

What Advice Would You Give to Those Looking to Apply for a Similar Scholarship?

My biggest piece of advice? Start early, stay true to your story, and don’t be afraid to show your passion. Scholarships like Chevening aren’t just looking for perfect grades — they want people who dream big, work hard, and give back. Believe in your story and don’t give up, even when the process feels overwhelming. Finally, don’t be afraid of setbacks. Every draft, every mock interview, every small improvement will bring you closer to that acceptance letter. Stay resilient — it’s worth it.