IMF Staff Country Reports

Paraguay: Selected Issues

July 1, 2024

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Format: Chicago

International Monetary Fund. Western Hemisphere Dept. "Paraguay: Selected Issues", IMF Staff Country Reports 2024, 201 (2024), accessed November 23, 2024, https://doi.org/10.5089/9798400280214.002

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Summary

The Selected Issues paper focuses on analyzing trade barriers in Paraguay. This study aims to conduct a more comprehensive analysis of Paraguay's trade performance compared to other Latin American nations and countries outside the region that share similar traits with Paraguay. The analysis highlights the crucial role of comprehensive policies in infrastructure development, governance enhancement, and human capital improvement for promoting trade in all countries, including Paraguay. Reducing trade barriers, overcoming infrastructure shortfalls, and enacting policies to enhance Paraguay's attractiveness for investment are key strategies for fostering trade and economic development. Finally, given Paraguay's levels of export concentration across products, alongside an increasing concentration across markets, and the vulnerability of its primary agricultural exports to droughts, diversification strategies should be intensified, both in terms of products and export markets. Investing in agricultural technology and practices that enhance drought resilience is crucial to safeguard primary exports. Additionally, exploring and developing nonagricultural sectors for export can reduce reliance on volatile agricultural commodities.

Subject: Exports, Informal employment, International trade, Labor, Social security contributions, Taxes, Trade policy

Keywords: Caribbean, E. policy implication, Elasticity of formality, Exports, Global, Informal employment, Social security contributions, South America, Trade level, Trade pattern, Trade performance, Trade policy

Publication Details

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