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Paraguay: Addressing the Stagnation and Instability Trap

Paraguay: Addressing the Stagnation and Instability Trap »

Source: Paraguay : Addressing the Stagnation and Instability Trap

Series: Departmental Papers / Policy Papers

Author(s): Alejandro Santos

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 December 2009

ISBN: 9781589068520

Keywords: inflation, central bank, exchange rate, monetary policy, monetary fund

Paraguay: Addressing the Stagnation and Instability Trap provides an overview of the analytical insights and policy challenges that a country faces while on the path to sustained growth with stability. It covers a...

1 Overview

1 Overview »

Source: Paraguay : Addressing the Stagnation and Instability Trap

Series: Departmental Papers / Policy Papers

Author(s): Alejandro Santos

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 December 2009

ISBN: 9781589068520

Keywords: inflation, central bank, exchange rate, monetary policy, monetary fund

One could be excused for believing that there is a deep understanding of the Paraguayan economy. After all, a quick Google search of Paraguay’s economy reveals 7½ mi...

2 Assessing Macroeconomic Policies

2 Assessing Macroeconomic Policies »

Source: Paraguay : Addressing the Stagnation and Instability Trap

Series: Departmental Papers / Policy Papers

Author(s): Alejandro Santos

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 December 2009

ISBN: 9781589068520

Keywords: inflation, central bank, exchange rate, monetary policy, monetary fund

The main macroeconomic problem in Paraguay is the persistence of high unemployment and low growth for an extended period of time. Over the past 50 years, Paraguay ha...

3 Recurrent Financial Crises: Causes, Costs, and Consequences

3 Recurrent Financial Crises: Causes, Costs, and Consequences »

Source: Paraguay : Addressing the Stagnation and Instability Trap

Series: Departmental Papers / Policy Papers

Author(s): Alejandro Santos

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 December 2009

ISBN: 9781589068520

Keywords: inflation, central bank, exchange rate, monetary policy, monetary fund

Paraguay had a series of recurrent financial crises in the eight years from 1995 to 2003. During that period, more than half of the banks and two-thirds of nonbank f...

4 Reforming the Financial System

4 Reforming the Financial System »

Source: Paraguay : Addressing the Stagnation and Instability Trap

Series: Departmental Papers / Policy Papers

Author(s): Alejandro Santos

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 December 2009

ISBN: 9781589068520

Keywords: inflation, central bank, exchange rate, monetary policy, monetary fund

The macroeconomic stability of recent years in Paraguay provides a window of opportunity to address key vulnerabilities in the financial sector that would otherwise be an obstacle to growth. Aft...

5 Strengthening the Central Bank

5 Strengthening the Central Bank »

Source: Paraguay : Addressing the Stagnation and Instability Trap

Series: Departmental Papers / Policy Papers

Author(s): Alejandro Santos

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 December 2009

ISBN: 9781589068520

Keywords: inflation, central bank, exchange rate, monetary policy, monetary fund

Paraguay’s external vulnerability, in a region that has experienced large macroeconomic shocks, calls for a strong central bank that is capable of delivering prudent...

6 Restructuring the National Development Bank

6 Restructuring the National Development Bank »

Source: Paraguay : Addressing the Stagnation and Instability Trap

Series: Departmental Papers / Policy Papers

Author(s): Alejandro Santos

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 December 2009

ISBN: 9781589068520

Keywords: inflation, central bank, exchange rate, monetary policy, monetary fund

The National Development Bank (Banco Nacional de Fomento, BNF) has experienced a successful reform process, passing from being a systemic risk institution within the...

7 Inflation Determinants: Cost Push Versus Demand Pull Factors

7 Inflation Determinants: Cost Push Versus Demand Pull Factors »

Source: Paraguay : Addressing the Stagnation and Instability Trap

Series: Departmental Papers / Policy Papers

Author(s): Alejandro Santos

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 December 2009

ISBN: 9781589068520

Keywords: inflation, central bank, exchange rate, monetary policy, monetary fund

Paraguay evaded the bouts of hyperinflation that affected most countries in Latin America over the post-Second World War period, but, as inflation started to decline...

8 Evaluating Exchange Rate Misalignment1

8 Evaluating Exchange Rate Misalignment1 »

Source: Paraguay : Addressing the Stagnation and Instability Trap

Series: Departmental Papers / Policy Papers

Author(s): Alejandro Santos

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 December 2009

ISBN: 9781589068520

Keywords: inflation, central bank, exchange rate, monetary policy, monetary fund

The appropriate level of the exchange rate is a hotly debated topic in Paraguay. Business and agricultural associations are vocal about the appropriate level of the...

9 Fiscal Structural Challenges and Reform Agenda

9 Fiscal Structural Challenges and Reform Agenda »

Source: Paraguay : Addressing the Stagnation and Instability Trap

Series: Departmental Papers / Policy Papers

Author(s): Alejandro Santos

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 December 2009

ISBN: 9781589068520

Keywords: inflation, central bank, exchange rate, monetary policy, monetary fund

While the fiscal stance has been prudent in the past years, Paraguay faces key structural challenges that require a more comprehensive fiscal reform. Since taking of...