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Western Hemisphere > Argentina

You are looking at 1 - 10 of 11 items for :

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Cover IMF Working Papers
Public Debt Dynamics During the Climate Transition
Daniel Garcia-Macia
,
Waikei R Lam
, and
Anh D. M. Nguyen
Managing the climate transition presents policymakers with a tradeoff between achieving climate goals, fiscal sustainability, and political feasibility, which calls for a fiscal balancing act with the right mix of policies. This paper develops a tractable dynamic general equilibrium model to quantify the fiscal impacts of various climate policy packages aimed at reaching net zero emissions by mid-century. Our simulations show that relying primarily on spending measures to deliver on climate ambitions will be costly, possibly raising debt by 45-50 percent of GDP by 2050. However, a balanced mix of carbon-pricing and spending-based policies can deliver on net zero with a much smaller fiscal cost, limiting the increase in public debt to 10-15 percent of GDP by 2050. Carbon pricing is central not only as an effective tool for emissions reduction but also as a revenue source. Delaying carbon pricing action could increase costs, especially if less effective measures are scaled up to meet climate targets. Technology spillovers can reduce the costs but bottlenecks in green investment could unwind the gains and slow the transition.
Keywords:
Climate change; mitigation; public debt; carbon pricing; subsidies; public investment; industrial policies; dynamic general equilibrium.; technology spillover; investment bottleneck; No. 2024/71; mix of carbon-pricing; adjustment cost parameter; Emerging and frontier financial markets; Climate finance; Climate policy; Global
Cover IMF Working Papers
A National Wealth Approach to Banking Crises and Financial Stability
Mr. Olivier M Frecaut
The paper explores a different, supplementary way to assess and manage a particular type of banking crises, those arising from a rise of nonperforming loans to the corporate sector. It relies on a “national wealth approach,” focusing on the distribution of net wealth among economic sectors and its interaction with developments in the banking system. It identifies avenues for policy response optimization, based on an integrated macrofinancial analytical framework, both for the prevention and the resolution of these types of economic events.
Keywords:
WP; income statement; bank data; banking sector issue; collection capability; work agenda
Cover IMF Working Papers
A National Wealth Approach to Banking Crises and Financial Stability
Mr. Olivier M Frecaut
The paper explores a different, supplementary way to assess and manage a particular type of banking crises, those arising from a rise of nonperforming loans to the corporate sector. It relies on a “national wealth approach,” focusing on the distribution of net wealth among economic sectors and its interaction with developments in the banking system. It identifies avenues for policy response optimization, based on an integrated macrofinancial analytical framework, both for the prevention and the resolution of these types of economic events.
Keywords:
WP; income statement; bank data; banking sector issue; collection capability; work agenda; Banking sector distress; National accounts; Macro-financial analysis integration; orphan financial assets; profitability data; value creation; bank borrower; bank capital; financial condition; Banking crises; Commercial banks; Financial statements; Financial sector stability; Global
Cover IMF Staff Country Reports
Paraguay: 2016 Article IV Consultation-Press Release; and Staff Report
International Monetary Fund. Western Hemisphere Dept.
This paper discusses the recent economic developments of Paraguay. Against the backdrop of a regional slowdown, Paraguay’s economy remains relatively resilient. The economy experienced some loss of momentum over the past year due to unfavorable external shocks. Inflation pressures remain contained despite significant depreciation of the guaraní against the U.S. dollar. Macroeconomic policies remain accommodative in light of subdued inflation and slower growth. Recently, credit growth has moderated, but credit quality has deteriorated. To further strengthen fiscal, monetary, and financial sector policy frameworks, Paraguay outlines structural reform agenda and measures. The national development plan places emphasis on inclusive growth and poverty reduction.
Keywords:
ISCR; CR; central bank; balance of payments; monetary policy; credit growth; headline inflation; IADB Paraguay; accommodative monetary policy stance; monetary policy transmission; PFM legal and regulatory frameworks; Credit; Global
Cover IMF Staff Country Reports
Paraguay: Consulta del Artículo IV correspondiente a 2014 - Informe del personal; y comunicado de prensa
International Monetary Fund. Western Hemisphere Dept.
Paraguay sigue siendo una de las economías más dinámicas de América Latina, con un crecimiento proyectado de alrededor de 4% entre 2014 y 2015. Las variables macroeconómicas son sólidas, y el Gobierno ha puesto en marcha un programa de reformas de gran alcance para eliminar los cuellos de botella en la infraestructura y otras deficiencias estructurales de larga data. Sin embargo, la capacidad de implementación es limitada, y las mejoras de los servicios públicos previstas deberán integrarse dentro de un plan fiscal a mediano plazo prudente.
Keywords:
ISCR; CR; central bank; exchange rate; government foreign-currency receipt
Cover IMF Staff Country Reports
Paraguay: Staff Report for the 2014 Article IV Consultation
International Monetary Fund. Western Hemisphere Dept.
This 2014 Article IV Consultation highlights that economic activity in Paraguay has slowed from record-high growth in 2013, but remains buoyant. Construction, manufacturing, and services led the expansion in 2014, whereas electricity production declined, and re-exports suffered from weak growth in Brazil. Full-year growth is estimated to have slightly exceeded 4 percent. Real GDP is projected to remain close to 4 percent in 2015. Weak trading partner growth and lower export prices cloud the outlook, and agricultural production is projected to rise only marginally above the high level of 2014.
Keywords:
ISCR; CR; central bank; exchange rate; government foreign-currency receipt; excl. central bank bank bill; executive board assessment; central bank of Paraguay; IADB Paraguay; banking system; PFM legal and regulatory frameworks; Credit; Global; South America
Cover IMF Working Papers
Post-Crisis Recovery: When Does Increased Fiscal Discipline Work?
Ms. Pritha Mitra
Emerging market financial crises during the late 1990s were marked by sudden withdrawals of funds by foreign creditors, resulting in production declines. The IMF favored positive signals to potential foreign creditors and initially recommended disciplined fiscal policy during the height of crisis, countering standard Keynesian recommendations of expansionary fiscal stimulus. This paper formulates an open-economy general equilibrium model for resolving this policy conundrum and analyzing the impact of disciplined fiscal policy on post-crisis recovery. The model demonstrates via simulations that disciplined fiscal policy will improve (worsen) post-crisis recovery in the presence (absence) of appropriately defined production flexibility.
Keywords:
WP; long-term debt; Financial crisis; Emerging markets; Fiscal policy; goods firm; tradable good; collateral constraint; firm hire; physical assets; Collateral; East Asia
Cover IMF Staff Country Reports
Paraguay: Report on the Observance of Standards and Codes (ROSC)—Data Module
International Monetary Fund
The country lacks an integrated statistical framework that would take account of the various analytical and accounting linkages across macroeconomic statistics, and the relationships between regulatory tools, intermediate objectives, and policy goals. There is significant room to improve the methodological soundness, accuracy, and reliability of the statistics, for instance, by expanding the data sources for most sectors, as well as by strengthening data validation and statistical techniques for most datasets. Paraguay should improve the access to official statistics and metadata.
Keywords:
ISCR; CR; bullet; short term; balance of payments; CBP website; asses CPI data source; IIP data; hard copy; Government finance statistics; Consumer price indexes; Balance of payments statistics; Producer price indexes; Caribbean; Global
Cover IMF Survey
IMF Survey, Volume 30, Issue 11
International Monetary Fund. External Relations Dept.
The Web edition of the IMF Survey is updated several times a week, and contains a wealth of articles about topical policy and economic issues in the news. Access the latest IMF research, read interviews, and listen to podcasts given by top IMF economists on important issues in the global economy. www.imf.org/external/pubs/ft/survey/so/home.aspx
Keywords:
SV; SDR; IMF's Policy Development; IMF's website; spending; IMF publications catalog; IMF survey; IMF staff country; IMF publication service; poverty reduction strategy paper; Defense spending; Currencies; Asia and Pacific; Western Hemisphere; Global; Middle East; Africa
Cover IMF Staff Country Reports
Paraguay: Selected Issues and Statistical Appendix
International Monetary Fund
This Selected Issues paper analyzes the background, stages and developments, and estimation of the direct costs of Paraguay's banking crisis. The paper provides the estimates on the size and evolution of the informal sector, and examines the extent to which the national accounts capture informal activity. The study also estimates the potential output and total factor productivity by examining trends in output, investment, and population growth as well as the direction and size of fiscal impulse on its economy. The paper also provides a statistical appendix report of Paraguay.
Keywords:
ISCR; CR; GDP; Paraguay; bank; trend factor productivity; investment data; discretionary expenditure; bank closure; wage outlay; Potential GDP growth; GDP estimate; Fiscal stance; Loans; Potential output; Public sector; Global