Paraguay: Staff Report for the 2004 Article IV Consultation and Second Review Under the Stand-By Arrangement and Requests for Waiver and Modifications of Performance Criteria

Author: International Monetary Fund

Volume/Issue: Volume 2005 Issue 059

Publication date: February 2005

ISBN: 9781451832433

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Exports and Imports , Economics- Macroeconomics , Public Finance , ISCR , CR , exchange , bond exchange , interest arrears , authority , credit rating agency Standard & Poor's , monetary policy management , authorities' effort , customs authorities , Public sector , Arrears , Public enterprises , Global , Africa , IMF representative

Also of interest

Peru

Grenada

Nepal

Republic of Congo : 2001 Article IV

Summary

This paper examines Paraguay’s 2004 Article IV Consultation and Second Review Under the Stand-By Arrangement and Requests for Waiver and Modifications of Performance Criteria. Paraguay’s economy has stabilized in 2004, but growth remains modest. A late season drought depressed output of soy, the largest export crop, reducing expected agricultural output growth to near zero, but non-agricultural output is recovering. The guaraní has strengthened by 4 percent against the U.S. dollar so far in 2004. The fiscal situation has improved markedly since the new government took office in August 2003.