Paraguay: Staff Report for the 2002 Article IV Consultation
Volume/Issue:
Volume 2003
Issue 094
Publication date: April 2003
ISBN: 9781451832389
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Topics covered in this book
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Business and Economics , Banks and Banking , Exports and Imports , Economics- Macroeconomics , Public Finance , ISCR , CR , reform law , public sector arrears , consumer price inflation , draft law , banking system deposit , Public sector , Commercial banks , Public enterprises , Global
Summary
This 2002 Article IV Consultation highlights that Paraguay’s economic performance in recent years has been characterized by slow economic growth and increasing unemployment and poverty rates. This stagnation reflects structural impediments to growth, exacerbated by external and domestic shocks. In 2002, the economy fell into its worst recession in decades, with real GDP down by 2½ percent, according to official estimates, or 4½ percent, according to IMF staff estimates, while inflation accelerated to 14½ percent. The public finances also deteriorated sharply in 2002.
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