{
  "title": "Paraguay: Request for Stand-By Arrangement—Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Paraguay",
  "publication": "IMF Staff Country Reports, August 14, 2006",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/paraguay-request-for-stand-by-arrangement-staff-report-press-release-on-the-executive-board-19819",
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  "summary": "The authorities’ program for 2003–05, supported by the previous Stand-By Arrangement (SBA), successfully stabilized the economy despite difficult conditions.",
  "publishDate": "2006-08-14",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Executive summary",
      "content": "- The authorities’ program for 2003–05, supported by the previous Stand-By Arrangement (SBA), successfully stabilized the economy despite difficult conditions.\n- A new economic program for 2006–08 is needed to:\n  - consolidate macroeconomic stability,\n  - address remaining vulnerabilities, and\n  - create the conditions for higher growth.\n- In the context of a benign environment, inflation fell significantly to 2¾ percent in 2004—the lowest inflation rate since the early 1970s.\n- The return of capital flight in 2004 satisfied increases in the demand for money and generated a rapid growth of monetary aggregates."
    },
    {
      "heading": "Macroeconomic stabilization and vulnerabilities",
      "content": "- 2003–05 program outcomes:\n  - Stabilization achieved under the previous SBA.\n  - Difficult external and/or domestic conditions are noted as context for stabilization.\n- Rationale for a new program (2006–08):\n  - Consolidation of achieved macroeconomic stability.\n  - Need to address remaining vulnerabilities that the prior program did not fully eliminate.\n  - Objective to create conditions for higher growth."
    },
    {
      "heading": "Inflation, money demand, and monetary aggregates",
      "content": "- Inflation:\n  - Fell to 2¾ percent in 2004.\n  - This rate is identified as the lowest since the early 1970s.\n- Money and capital flows:\n  - The return of capital flight in 2004 satisfied increases in the demand for money.\n  - This process generated a rapid growth of monetary aggregates."
    },
    {
      "heading": "Thematic coverage (as listed)",
      "content": "- Subjects: Banking, Currencies, Economic sectors, External debt, Inflation, Money, Prices, Public debt, Public sector\n- Keywords: authority, Caribbean, CR, Currencies, government arrears, government of Paraguay, government reform agenda, Inflation, ISCR, monetary authorities, monetary policy, prudent fiscal policy, Public sector, reform agenda, SDR, supportive monetary policy\n\n---\n\n Content in this bundle\n\n- cr06302 - Executive Summary\n  - cr06302 - Executive Summary (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr06302 - Executive Summary (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2016/12/31/paraguay-request-for-stand-by-arrangement-staff-report-press-release-on-the-executive-board-19819"
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    "Published: August 14, 2006",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451832518.002",
    "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:",
    "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.",
    "2003–05 program outcomes:",
    "Rationale for a new program (2006–08):",
    "Inflation:",
    "Money and capital flows:",
    "Subjects: Banking, Currencies, Economic sectors, External debt, Inflation, Money, Prices, Public debt, Public sector",
    "Keywords: authority, Caribbean, CR, Currencies, government arrears, government of Paraguay, government reform agenda, Inflation, ISCR, monetary authorities, monetary policy, prudent fiscal policy, Public sector, reform agenda, SDR, supportive monetary policy",
    "**_cr06302 - Executive Summary**"
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