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Fermín Balbuena (born 7 July 1961 in Asunción, Paraguay) is a Paraguayan football manager and former Paraguayan international footballer who played in clubs of Paraguay and Chile.
- Olimpia 1988, 1989 and 1995 (Paraguayan Primera División Championship), 1990 (Copa Libertadores de América and Supercopa Sudamericana), 1991 (Recopa Sudamericana)
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