On 20 July 2011, Paraguay advanced to the Copa América Final despite not winning any of their previous matches in the tournament. They didn't win the Final either, losing to Uruguay 3-0.
Paraguay, who won the tournament in 1953 and 1979, opened their 2011 campaign by drawing 0-0 with Ecuador. They followed that with draws with Brazil (2-2) and Venezuela (3-3) to finish third in their group. But they advanced to the knockout rounds as their three points made them the second-best third-place finisher from the group stage.
In the quarterfinals, they faced Brazil again and held them to a scoreless draw through extra-time. They won the ensuing penalty shootout 2-0, but under FIFA rules, the shootout is not part of the match, which is officially considered a draw. They advanced to a semifinal rematch with Venezuela on 20 July where they again played to a scoreless draw through extra-time and advanced on penalties.
The pattern failed to hold in the Final, however, played at the Monumental in Buenos Aires on 24 July. There, a goal from Luis Suárez (11') and a brace from Diego Forlán (41', 89') ensured Uruguay's victory at the end of 90 minutes.