Republic of Paraguay (modern)
Who & why: after the catastrophic 1864–70 Paraguayan War devastates the country's population and strips away large tracts of territory, Paraguay rebuilds slowly under a long series of republican governments through the 20th century, including the four-decade Stroessner dictatorship (1954–89), before consolidating into today's multiparty democracy.
What it represents: the red-white-blue tricolor, in use in this basic form since the 1840s, remains the national flag throughout. Paraguay is famously one of the very few countries whose state flag differs on its two sides — the national coat of arms on the obverse, the Treasury seal (a lion and liberty cap) on the reverse — a documented design quirk simplified away on the plain triband shown here.