{
  "title": "Paraguay: Fourth Review Under the Policy Coordination Instrument, Request for Modification of Targets, Second Review Under the Arrangement Under the Resilience and Sustainability Facility, and Request for Rephasing Access-Press Release; and Staff Report",
  "publication": "IMF Staff Country Reports, December 23, 2024",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2024/12/21/paraguay-fourth-review-under-the-policy-coordination-instrument-request-for-modification-of-559963",
  "canonical": "https://www.imf.org/en/publications/cr/issues/2024/12/21/paraguay-fourth-review-under-the-policy-coordination-instrument-request-for-modification-of-559963",
  "overlayPath": "/en/publications/cr/issues/2024/12/21/paraguay-fourth-review-under-the-policy-coordination-instrument-request-for-modification-of-559963/index.md",
  "summary": "This paper focuses on Paraguay’s Fourth Review under the Policy Coordination Instrument (PCI), Request for Modification of Targets, Second Review under the Arrangement under the Resilience and Sustainability Facility (RSF), and Request for Rephasing Access.",
  "sections": [
    {
      "heading": "Summary and Key Findings",
      "content": "- Focus: Fourth Review under the Policy Coordination Instrument (PCI); Request for Modification of Targets; Second Review under the Arrangement under the Resilience and Sustainability Facility (RSF); Request for Rephasing Access.\n- Economic activity: Buoyant activity continues, reflecting high consumer confidence and expanding services and manufacturing sectors.\n- Program performance: The program performance under the PCI has been solid, underpinned by actions to preserve macroeconomic stability to enhance the country’s economic growth prospects.\n- Climate agenda: Progress on the climate agenda under the RSF remains strong, bolstering Paraguay's resilience to climate shocks."
    },
    {
      "heading": "Macroeconomic outlook and policy stance",
      "content": "- Growth drivers: High consumer confidence and expanding services and manufacturing sectors are supporting activity.\n- Macroeconomic stability: Actions under the PCI aim to preserve macroeconomic stability to enhance growth prospects."
    },
    {
      "heading": "Fiscal policy and public finances",
      "content": "- Fiscal sustainability: Maintaining fiscal sustainability is essential going forward.\n- Public pension system: Stabilizing the finances of the public pension system should remain a priority."
    },
    {
      "heading": "Monetary policy guidance",
      "content": "- Policy stance: Monetary policy should continue to be guided by data when contemplating further easing."
    },
    {
      "heading": "Resilience and Sustainability Facility (RSF)",
      "content": "- RSF progress: Progress on the climate agenda under the RSF remains strong.\n- Resilience objective: RSF-supported measures bolster Paraguay's resilience to climate shocks."
    },
    {
      "heading": "Structural reforms and inclusiveness",
      "content": "- Reform priorities:\n  - Accelerate structural reform implementation to promote growth and inclusiveness.\n  - Reforms in labor markets to address a high level of informality.\n  - Improve governance and address corruption."
    },
    {
      "heading": "Program requests and operational actions",
      "content": "- Requests included: Modification of targets under the PCI; Rephasing of access under the RSF arrangement.\n- Program performance characterization: Described as solid, supported by measures to preserve macroeconomic stability.\n\n---\n\n Content in this bundle\n\n- 1pryea2024004-print-pdf\n  - 1pryea2024004-print-pdf (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1pryea2024004-print-pdf (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/cr/issues/2024/12/21/paraguay-fourth-review-under-the-policy-coordination-instrument-request-for-modification-of-559963/index.md)",
    "[Structured JSON version](/en/publications/cr/issues/2024/12/21/paraguay-fourth-review-under-the-policy-coordination-instrument-request-for-modification-of-559963/index.json)",
    "[Bundle manifest](/en/publications/cr/issues/2024/12/21/paraguay-fourth-review-under-the-policy-coordination-instrument-request-for-modification-of-559963/bundle-manifest.json)",
    "Published: December 23, 2024",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400294266.002",
    "Focus: Fourth Review under the Policy Coordination Instrument (PCI); Request for Modification of Targets; Second Review under the Arrangement under the Resilience and Sustainability Facility (RSF); Request for Rephasing Access.",
    "Economic activity: Buoyant activity continues, reflecting high consumer confidence and expanding services and manufacturing sectors.",
    "Program performance: The program performance under the PCI has been solid, underpinned by actions to preserve macroeconomic stability to enhance the country’s economic growth prospects.",
    "Climate agenda: Progress on the climate agenda under the RSF remains strong, bolstering Paraguay's resilience to climate shocks.",
    "Growth drivers: High consumer confidence and expanding services and manufacturing sectors are supporting activity.",
    "Macroeconomic stability: Actions under the PCI aim to preserve macroeconomic stability to enhance growth prospects.",
    "Fiscal sustainability: Maintaining fiscal sustainability is essential going forward.",
    "Public pension system: Stabilizing the finances of the public pension system should remain a priority.",
    "Policy stance: Monetary policy should continue to be guided by data when contemplating further easing.",
    "RSF progress: Progress on the climate agenda under the RSF remains strong.",
    "Resilience objective: RSF-supported measures bolster Paraguay's resilience to climate shocks.",
    "Reform priorities:",
    "Requests included: Modification of targets under the PCI; Rephasing of access under the RSF arrangement.",
    "Program performance characterization: Described as solid, supported by measures to preserve macroeconomic stability.",
    "**1pryea2024004-print-pdf**"
  ],
  "related": [
    {
      "title": "1pryea2024004-print-pdf",
      "role": "document",
      "sourceUrl": "https://www.imf.org/-/media/files/publications/cr/2024/english/1pryea2024004-print-pdf.pdf",
      "summary": {
        "path": "/-/media/files/publications/cr/2024/english/1pryea2024004-print-pdf.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/files/publications/cr/2024/english/1pryea2024004-print-pdf.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/cr/issues/2024/12/21/paraguay-fourth-review-under-the-policy-coordination-instrument-request-for-modification-of-559963/index.md",
    "json": "/en/publications/cr/issues/2024/12/21/paraguay-fourth-review-under-the-policy-coordination-instrument-request-for-modification-of-559963/index.json",
    "bundleManifest": "/en/publications/cr/issues/2024/12/21/paraguay-fourth-review-under-the-policy-coordination-instrument-request-for-modification-of-559963/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-11T04:41:24.323Z"
}