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

International Monetary Fund

No 2005/059, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: 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 (search for similar items in EconPapers)
Pages: 94
Date: 2005-02-18
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