Paraguay Country Economic Memorandum PDF Download
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Author: World Bank
Publisher:
ISBN:
Category :
Languages : en
Pages : 46
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Book Description
Author: World Bank
Publisher:
ISBN:
Category :
Languages : en
Pages : 46
Get Book Here
Book Description
Author: World Bank
Publisher: Washington, D.C. : World Bank
ISBN:
Category : Business & Economics
Languages : en
Pages : 230
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Book Description
Agriculture has been Paraguay's main source of growth since colonial times. Agricultural exports continue to be a major determinant of the rhythm of growth. New sources of growth (commerce, tourism, and construction) were developed in the 1960s. In the 1970s, growth accelerated sharply, with the growth of the agricultural frontier, and more importantly, the construction of Itaipu dam. The sale of surplus hydro-power from Itaipu, and from Yacireta when it is completed, will benefit Paraguay for years to come. The new government has taken a number of strong actions to restore stability, including improving public finances, bringing down inflation, unifying and liberalizing the exchange rate, freeing many interest rates, and initiating a tax reform. A number of structural changes that would continue to contribute towards these goals are advanced in this report. Shifts in agricultural policy to promote a more intensive pattern of development and continued investment in and maintenance of transport infrastructure are essential. Changes in financial sector regulation to reduce the artificial barriers between institutions and to improve financial supervision need attention. Reduction and unification of tariffs, improvements in management of privatizations and joint ventures, and tax reform that lowers rates to collectible levels will prepare Paraguay for the signed MERCOSUR treaty.
Author:
Publisher:
ISBN:
Category : Paraguay
Languages : en
Pages : 224
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Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: Banco Mundial
Publisher:
ISBN:
Category :
Languages : en
Pages : 195
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Author: World Bank. Country Operations Division
Publisher:
ISBN:
Category : Balance of payments
Languages : en
Pages :
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Book Description
Isolated by nature, lacking major mineral resources, and punished by several devastating wars, Paraguay is among the lesser developed countries in Latin America. In the early 1980s, macroeconomic management deteriorated as Government policies aggravated the recession that began with the end of the Itaipu hydroelectric construction boom. Balance of payments problems became chronic, foreign debt surged and went into arrears, public finances weakened, inflation accelerated, and the economy stagnated. In a vain attempt to improve the balance of payments, the Government imposed a distortionary system of multiple exchange rates, that fueled corruption and inflation. Since 1989, macroeconomic management has improved dramatically. The exchange rate was unified. Public finances were strengthened, although in 1992 there was a temporary slippage because of a rise in public consumption. Strengthened public finances, plus the ending of the Central Bank's inflationary financing of the multiple exchange rates, eventually curtailed domestic credit growth and led to a sharp drop in inflation. The balance of payments has been strong, albeit increasingly dependent on potentially volatile short term capital inflows. Interest rates on deposits and loans were freed, eliminating the negative effect on financial savings of several years of repressed rates. Tax distortions have been reduced significantly, although collection remains low. The public sector remains small by international standards.
Author: Banco Mundial
Publisher:
ISBN:
Category :
Languages : es
Pages : 46
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Author: World Bank. Country Management Unit
Publisher:
ISBN:
Category : Banks and banking
Languages : en
Pages : 46
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The recent inauguration of a new administration led by President Cubas presents an opportunity to activate economic growth by implementing policies that increase economic efficiency and attract private investment. Key to this effort is macroeconomic policies aimed at fiscal discipline, low inflation and interest rates, and an exchange rate that encourages productive activities. A failure to carry out such policies will lead to a continuation of the recent stagnation of incomes and may well lead to a significant decline in incomes and social unrest. In the short term this will require actions to restore confidence in the banking system, ensure the integrity of pension funds, and reduce the economic and fiscal drain caused by inefficiency run public services, banks, and enterprise. In the medium term, the government should reduce its fiscal expenditures, prevent future banking crises, and ensure long term viability of the pension systems. Measures aimed at shifting the informal economy toward a formal one should yield high dividends. Fiscal reform accompanied by measures to make the labor market more flexible should help stimulate formal sector activity.
Author: World Bank. Latin America and the Caribbean Regional Office. Country Dept. II.
Publisher:
ISBN:
Category : Economic indicators
Languages : en
Pages : 156
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Book Description
Author: Manmohan Agarwal
Publisher:
ISBN:
Category : Paraguay
Languages : en
Pages : 180
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Book Description
