Paraguay: 2013 Article IV Consultation-Staff Report; Press Release

Author: International Monetary Fund. Western Hemisphere Dept.

Volume/Issue: Volume 2014 Issue 060

Publication date: February 2014

ISBN: 9781475519006

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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 , Economics- Macroeconomics , Public Finance , Business and Economics - Statistics , ISCR , CR , inflation targeting , inflation-targeting regime , target rate , exchange rate , inflation-targeting framework , foreign currency , current account , U , S , dollar , Public investment and public-private partnerships (PPP) , PFM legal and regulatory frameworks , Global

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Summary

This 2013 Article IV consultation highlights the main challenge ahead for Paraguay, which is to improve social and economic development while strengthening the macroeconomic policy framework to cement strong fundamentals. Paraguay’s outlook for 2014–18 is favorable, with broadly balanced risks, despite less buoyant external conditions. The economy is expected to continue to be one of the most dynamic in the region, with growth returning to potential of about 4.5 percent a year by 2016, inflation in line with the central bank’s target rate, and small fiscal and current account deficits. Consistent with this outlook, the policy stance should be tightened in the near term, with policies guided by fiscal responsibility and incipient inflation-targeting frameworks over the medium term.