The zone's competition was held in round robin format in Asuncion, Paraguay, from 19 to 24 June 2023.
Date: 19–24 June 2023 Location: Club Internacional de Tenis, Asuncion, Paraguay (Clay) Format: Round-robin basis.
Nations finishing second in each group will enter a promotion play-off and the winner will be promoted to World Group II play-offs in 2024.
Nations finishing fourth of each group will enter a relegation play-off and the lost team as well as the fifth team in Pool B will be relegated to Americas Zone Group IV in 2024.
Standings are determined by: 1. number of wins; 2. number of matches; 3. in two-team ties, head-to-head records; 4. in three-team ties, (a) percentage of sets won (head-to-head records if two teams remain tied), then (b) percentage of games won (head-to-head records if two teams remain tied), then (c) Davis Cup rankings.