{
  "title": "Paraguay: Request for a Two-Year Policy Coordination Instrument-Press Release; Staff Report; and Statement by the Executive Director for Paraguay",
  "publication": "IMF Staff Country Reports, December 2, 2022",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2022/12/03/paraguay-request-for-a-two-year-policy-coordination-instrument-press-release-staff-report-525940",
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  "summary": "Paraguay continues to recover from the COVID-19 pandemic amidst simultaneous shocks that would lead to flat GDP growth and inflation above the IT range this year. Those conditions are reflected in rising social demands within a politicized environment before the 2023 general elections.",
  "sections": [
    {
      "heading": "Summary",
      "content": "- Paraguay continues to recover from the COVID-19 pandemic amidst simultaneous shocks that would lead to flat GDP growth and inflation above the IT range this year.\n- Rising social demands are occurring within a politicized environment ahead of the 2023 general elections.\n- The outlook remains favorable, and the authorities are pursuing policies to follow a stronger, more resilient, and inclusive development path.\n- Authorities request approval of a two-year program supported by the Policy Coordination Instrument (PCI) to underpin the implementation of needed structural reforms.\n- The request is based on very positive experiences with Fund-supported programs."
    },
    {
      "heading": "Economic outlook and recent shocks",
      "content": "- Flat GDP growth this year.\n- Inflation above the IT range this year.\n- Simultaneous shocks are affecting the recovery from the COVID-19 pandemic.\n- Political environment: rising social demands and heightened politicization before the 2023 general elections."
    },
    {
      "heading": "Program request and policy rationale",
      "content": "- Request: approval of a two-year program supported by the Policy Coordination Instrument (PCI).\n- Purpose: to underpin the implementation of needed structural reforms.\n- Justification: builds on very positive experiences with prior Fund-supported programs.\n- Policy focus: pursue a stronger, more resilient, and inclusive development path."
    },
    {
      "heading": "Subject coverage and keywords",
      "content": "- Subject areas:\n  - Expenditure\n  - Government debt management\n  - International organization\n  - Monetary policy\n  - Public debt\n  - Public financial management (PFM)\n  - Revenue administration\n  - Social assistance spending\n- Keywords:\n  - Global\n  - governance assessment report\n  - Government debt management\n  - government structure\n  - government support\n  - reform agenda\n  - Social assistance spending\n  - spillover effect\n\nParaguay: Request for a Two-Year Policy Coordination Instrument-Press Release; Staff Report; and Statement by the Executive Director for Paraguay, December 2, 2022; DOI: https://doi.org/10.5089/9798400226519.002\n\n---\n\n Content in this bundle\n\n- 1pryea2022004\n  - 1pryea2022004 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1pryea2022004 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: December 2, 2022",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400226519.002",
    "Paraguay continues to recover from the COVID-19 pandemic amidst simultaneous shocks that would lead to flat GDP growth and inflation above the IT range this year.",
    "Rising social demands are occurring within a politicized environment ahead of the 2023 general elections.",
    "The outlook remains favorable, and the authorities are pursuing policies to follow a stronger, more resilient, and inclusive development path.",
    "Authorities request approval of a two-year program supported by the Policy Coordination Instrument (PCI) to underpin the implementation of needed structural reforms.",
    "The request is based on very positive experiences with Fund-supported programs.",
    "Flat GDP growth this year.",
    "Inflation above the IT range this year.",
    "Simultaneous shocks are affecting the recovery from the COVID-19 pandemic.",
    "Political environment: rising social demands and heightened politicization before the 2023 general elections.",
    "Request: approval of a two-year program supported by the Policy Coordination Instrument (PCI).",
    "Purpose: to underpin the implementation of needed structural reforms.",
    "Justification: builds on very positive experiences with prior Fund-supported programs.",
    "Policy focus: pursue a stronger, more resilient, and inclusive development path.",
    "Subject areas:",
    "Keywords:",
    "**1pryea2022004**"
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