Paraguay: Request for Stand-By Arrangement—Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Paraguay

International Monetary Fund

No 2006/302, IMF Staff Country Reports from International Monetary Fund

Abstract: The authorities’ program for 2003–05, supported by the previous Stand-By Arrangement (SBA), successfully stabilized the economy despite difficult conditions. A new economic program for 2006–08 is needed to consolidate macroeconomic stability, address remaining vulnerabilities, and create the conditions for higher growth. In the context of a benign environment, inflation fell significantly to 2¾ percent in 2004—the lowest inflation rate since the early 1970s. The return of capital flight in 2004 satisfied increases in the demand for money and generated a rapid growth of monetary aggregates.

Keywords: ISCR; CR; authority; reform agenda; government arrears; monetary policy; SDR; government reform agenda; supportive monetary policy; monetary authorities; prudent fiscal policy; government of Paraguay; Public sector; Inflation; Currencies; Caribbean (search for similar items in EconPapers)
Pages: 96
Date: 2006-08-14
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