| Description |
1 online resource (77 pages) : color illustrations |
| Series |
IMF country report ; no. 14/60 |
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IMF country report ; no. 14/60
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| Contents |
Cover; CONTENTS; CONTEXT; RECENT DEVELOPMENTS; A.A Strong Recovery Along with Slow Inflation in 2013; OUTLOOK AND RISKS; POLICY DISCUSSIONS; A. Stronger Fiscal Framework; B. Monetary and Exchange Rate Policy at the Forefront to Manage Risks; C. Stronger Supervisory-Regulatory Framework; D. Promoting Inclusive Growth; STAFF APPRAISAL; BOXES; 1. Impact of External and Domestic Shocks on Paraguay's Non-Agricultural Sector; 2. The Fiscal Responsibility Law; 3. The Public-Private Partnerships (PPPs) Law; 4. The Government's Strategy to Reduce Extreme Poverty; FIGURES |
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1. Long Term Growth and Poverty2. Real Sector Developments, 2009-2013; 3. Fiscal Developments, 2009-2013; 4. Monetary Developments, 2009-2013; 5. Balance of Payments Developments, 2009-2013; 6. Structural Indicators; TABLES; 1. Legislated Policy Reforms, 2012-13; 2. Selected Economic and Social Indicators; 3a. Central Government Operations; 3b. Central Government Operations (2001 GFSM); 4. Operations of the Consolidated Public Sector; 5. Summary Accounts of the Central Bank; 6. Summary Accounts of the Financial System; 7. Balance of Payments; 8. Indicators of External Vulnerability; ANNEXES |
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I. Banking Credit DevelopmentsII. Assessing Paraguay's Potential Growth over the Medium Term; III. Balance of Payments Stability Assessment; IV. Debt Sustainability Analysis; V. Migration to Full-Fledged Inflation Targeting Regime-Status of Main Recommendations; VI. 2011 FSAP Status of Main Recommendations; CONTENTS; FUND RELATIONS; RELATIONS WITH THE WORLD BANK UNDER JMAP; RELATIONS WITH THE INTER-AMERICAN DEVELOPMENT BANK; STATISTICAL ISSUES |
| Summary |
"Paraguay has strong economic fundamentals - debt, sizeable official reserves, and small fiscal and external imbalances. The main challenge ahead is to improve social and economic development, while strengthening the macroeconomic policy framework to cement strong fundamentals. To address these challenges, the government that assumed office in August 2013 with a strong mandate, has proposed important reforms and made a solid start by enacting key pieces of legislation - taxes, and private-public partnerships (PPPs) and fiscal responsibility laws. Prospects: Paraguay's outlook for 2014-18 is favorable with broadly balanced risks, despite less buoyant external conditions. The economy would 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, a tightening in the policy stance should take place in the near term, with policies guided by the fiscal responsibility and incipient inflation targeting frameworks over the medium term. Cementing sound economic fundamentals: The fiscal responsibility law provides a sound anchor to underpin fiscal sustainability but stronger budget institutions are needed to improve the quality of spending along with strengthened tax and customs administration and capacity to deal with potential risks from PPPs. Civil service and pension reforms are also needed to further strengthen the fiscal framework. The central bank has made important advances in implementing an inflation-targeting (IT) regime along with greater exchange rate flexibility. The focus should remain on steps to achieve a full-fledged IT regime and on strengthening risk-based bank supervision in line with international best practices. Inclusive growth: Success in reducing poverty will depend on ensuring the long-term sustainability of initiatives underway and on increasing labor market flexibility to reduce informality as well as improved public enterprises management to bolster access to basic public services at reasonable cost"--Abstract |
| Notes |
"February 2014." |
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"January 30, 2014"--Page 2 of pdf |
| Bibliography |
Includes bibliographical references |
| Notes |
Online resource; title from pdf title page (IMF Web site, viewed February 25, 2014) |
| Subject |
International Monetary Fund -- Paraguay
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| SUBJECT |
International Monetary Fund fast |
| Subject |
Economic development -- Paraguay
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Monetary policy -- Paraguay
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Foreign exchange -- Paraguay
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Banks and banking -- State supervision -- Paraguay
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Economic indicators -- Paraguay
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Banks and banking -- State supervision
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Economic development
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Economic indicators
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Foreign exchange
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Monetary policy
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Paraguay
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| Form |
Electronic book
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| Author |
International Monetary Fund
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