Press Release: IMF Executive Board Completes Sixth Review of Paraguay's Stand-By Arrangement Paraguay
February 7, 2006Press Release No. 06/26
The Executive Board of the International Monetary Fund (IMF) completed on November 30, 2005 the sixth review of Paraguay's economic performance under an SDR 50 million (about US$73.3 million) Stand-By Arrangement for Paraguay, originally approved on December 15, 2003 for 15 months (see Press Release No. 03/218). The arrangement was subsequently extended through September 30, 2005 on December 20, 2004 (see Press Release No. 04/271) and through November 30, 2005, on September 30, 2005. Both the later extension and the review were completed by the Executive Board on a lapse of time basis.
The completion of the sixth review made a cumulative amount equivalent to SDR 50 million (about US$71.2 million) immediately available to Paraguay. However, Paraguay did not make any drawings under the arrangement.
(This statement is being released for public record)