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IMF Country Report No. 14/248

PARAGUAY

REPORT ON OBSERVANCE OF STANDARDS AND CODES

August 2014

This Report on the Observance of Standards and Codes—Data Module for Paraguay was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. It is based on the information available at the time it was completed on July 29, 2014.

The views expressed in this document are those of the staff team and do not necessarily reflect the views of the government of Paraguay or the Executive Board of the IMF.

The Response by the Authorities to this report and the Detailed Assessments Using the Data Quality Assessment Framework (DQAF) are also included.

The policy of publication of staff reports and other documents by the IMF allows for the deletion of market-sensitive information.

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©2014 International Monetary Fund

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PARAGUAY

REPORT ON THE OBSERVANCE OF STANDARDS AND CODES (ROSC)—DATA MODULE VOLUME I

August 2014

The Report on the Observance of Standards and Codes (ROSC)—Data Module provides an assessment of Paraguay’s macroeconomic statistics against the recommendations of the General Data Dissemination System (GDDS), complemented by an assessment of data quality based on the IMF’s Data Quality Assessment Framework (DQAF) 2012. The DQAF lays out internationally accepted practices in statistics, ranging from good governance in data-producing agencies to practices specific to individual datasets.

The datasets covered in this Report are national accounts, consumer and producer price indices, government finance and public sector debt statistics, monetary statistics, and balance of payments and international investment position statistics. The agencies that compile the datasets assessed in this Report are the Central Bank of Paraguay (CBP) and the Ministry of Finance (MOF). The Directorate General of Statistics, Surveys, and Censuses (DGEEC) was also evaluated regarding prerequisites of quality and assurances of integrity.

The datasets to which this Report pertains can be accessed in print and on the Internet at:

• CBP website (http://www.bcp.gov.py)

• MOF website (http://www.hacienda.gov.py)

• DGEEC website (http://www.dgeec.gov.py)

Approved By

Louis Marc Ducharme and Alejandro Werner

Prepared By

The Statistics Department

Contents

• GLOSSARY

• OVERALL ASSESSMENT

• ASSESSMENT BY AGENCY AND DATASET

• TABLES

• Table 1. Data Quality Assessment Framework 2012—Summary Results

• Table 2a. Assessment of Data Quality—Dimensions 0 and 1—Central Bank of Paraguay

• Table 2b. Assessment of Data Quality—Dimensions 0 and 1—Ministry of Finance

• Table 2c. Assessment of Data Quality—Dimensions 0 and 1—Directorate General of Statistics, Surveys, and Censuses

• Table 3a. Assessment of Data Quality—Dimensions 2 to 5—National Accounts

• Table 3b. Assessment of Data Quality—Dimensions 2 to 5—Consumer Price Index

• Table 3c. Assessment of Data Quality—Dimensions 2 to 5—Producer Price Index

• Table 3d. Assessment of Data Quality—Dimensions 2 to 5—Government Finance Statistics

• Table 3e. Assessment of Data Quality—Dimensions 2 to 5—Monetary Statistics

• Table 3f. Assessment of Data Quality—Dimensions 2 to 5—Balance of Payments Statistics

• STAFF’S RECOMMENDATIONS

• APPENDIX TABLES

• Appendix I. Practices Compared to the GDDS Coverage, Periodicity, and Timeliness of Data

Glossary

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PARAGUAY

REPORT ON THE OBSERVANCE OF STANDARDS AND CODES (ROSC)—DATA MODULE VOLUME II

RESPONSE BY THE AUTHORITIES

August 2014

Contents

• GLOSSARY

• INTRODUCTION

• CROSS-CUTTING RECOMMENDATIONS

• A. High Priority

• B. Other key recommendations

• RESPONSE BY THE CENTRAL BANK OF PARAGUAY

• A. National Accounts

• B. Consumer Price Index

• C. Producer Price Index

• D. Monetary Statistics

• E. Balance of Payments Statistics

• RESPONSE BY THE MINISTRY OF FINANCE

• A. Government Finance Statistics

• ACTION PLAN

• A. Cross-cutting Actions

• B. National Accounts Statistics

• C. Consumer Price Statistics

• D. Producer Price Statistics

• E. Monetary Statistics

• F. Balance of Payments Statistics

Glossary

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PARAGUAY

REPORT ON THE OBSERVANCE OF STANDARDS AND CODES (ROSC)—DATA MODULE VOLUME III

DETAILED ASSESSMENTS USING THE DATA QUALITY ASSESSMENT FRAMEWORK (DQAF)

August 2014

Approved By

Louis Marc Ducharme and Alejandro Werner

Prepared By

The Statistics Department

Contents

• GLOSSARY

• NATIONAL ACCOUNTS STATISTICS

• 0. Prerequisites of Quality

• 1. Assurances of integrity

• 2. Methodological soundness

• 3. Accuracy and reliability

• 4. Serviceability

• 5. Accessibility

• PRICE STATISTICS (CONSUMER PRICE INDEX)

• 0. Prerequisites of Quality

• 1. Assurances of integrity

• 2. Methodological soundness

• 3. Accuracy and Reliability

• 4. Serviceability

• 5. Accessibility

• PRICE STATISTICS (PRODUCER PRICE INDEX)

• 0. Prerequisites of quality

• 1. Assurances of integrity

• 2. Methodological soundness

• 3. Accuracy and Reliability

• 4. Serviceability

• 5. Accessibility

• GOVERNMENT FINANCE STATISTICS

• 0. Prerequisites of Quality

• 1. Assurances of integrity

• 2. Methodological soundness

• 3. Accuracy and reliability

• 4. Serviceability

• 5. Accessibility

• MONETARY STATISTICS

• 0. Prerequisites of quality

• 1. Assurances of integrity

• 2. Methodological soundness

• 3. Accuracy and reliability

• 4. Serviceability

• 5. Accessibility

• BALANCE OF PAYMENTS STATISTICS

• 0. Prerequisites of quality

• 1. Assurances of integrity

• 2. Methodological soundness

• 3. Accuracy and reliability

• 4. Serviceability

• 5. Accessibility

• TABLES

• 1. Data Quality Assessment Framework (May 2012): Summary of Results for National Accounts Statistics

• 2. Data Quality Assessment Framework (May 2012): Summary of Results for Consumer Price Index

• 3. Data Quality Assessment Framework (May 2012): Summary of Results for Producer Price Index

• 4. Data Quality Assessment Framework (May 2012): Summary of Results for Government Finance Statistics

• 5. Data Quality Assessment Framework (May 2012): Summary of Results for Monetary Statistics

• 6. Data Quality Assessment Framework (May 2012): Summary of Results for Balance of Payments Statistics

• APPENDIXES

• I. Summary of the General Data Dissemination System (GDDS)

• II. Summary of the Special Data Dissemination Standard (SDDS)

• III. Data Quality Assessment Framework—Generic Framework

• IV. Paraguay: Practices Compared to the SDDS Coverage, Periodicity, and Timeliness of Data

• V. Users’ Survey

Glossary