Paraguay: First Review Under the Policy Coordination Instrument and Request for Modification of Targets-Press Release; Staff Report

June 13, 2023

Preview Citation

Format: Chicago

Paraguay: First Review Under the Policy Coordination Instrument and Request for Modification of Targets-Press Release; Staff Report, (USA: International Monetary Fund, 2023) accessed December 22, 2024

Also available in: español

Summary

Recent developments: Paraguay continues to recover from last year’s severe drought, with economic growth for 2023 expected at 4.5 percent. The recovery of agricultural exports is also contributing to an improved external current account, easing potential pressures on the exchange rate. In the context of a continued tight monetary policy stance, inflation has been declining over the last twelve months. The government successfully reduced the fiscal deficit to 3 percent of GDP, and fiscal policies remain on the envisaged consolidation path. Paraguay’s financial and banking sector remains stable. On April 30, Paraguay held national elections in which the candidate for the ruling Colorado party, Santiago Peña, was elected President by a significant margin.

Subject: Economic sectors, Government debt management, Inflation, International organization, Macrostructural analysis, Monetary policy, Prices, Public debt, Public financial management (PFM), Public sector, Structural reforms

Keywords: Global, Government debt management, IMF's transparency policy, Inflation, Inflation target band, Macroeconomic policy, Policy buffer, Policy discussion, Policy meeting, Policy recommendation, Public sector, Structural reforms

Publication Details

Pages:

60
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2023/207
Stock No:

1PRYEA2023001
ISBN:

9798400245756
ISSN:

1934-7685

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