IMF Executive Board Completes Sixth Review of Paraguay's Stand-By Arrangement ParaguayPress Release No. 06/26
February 7, 2006
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)