Fermín Balbuena (born 7 July 1961) is a Paraguayan football manager and former player who played for clubs from Paraguay and Chile. He made two appearances for the Paraguay national team.
Honours Olimpia Paraguayan Primera División: 1988, 1989, 1995 Copa Libertadores: 1990 Supercopa Sudamericana: 1990 Recopa Sudamericana: 1991
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