Paraguay : 2009 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Paraguay

This 2009 Article IV Consultation highlights that the Paraguayan economy performed very well over the past five years, with real GDP growth averaging about 5 percent a year—the best in a generation. The fiscal position strengthened considerably, thereby reducing public debt sharply to relatively low levels. The economy grew by nearly 6 percent in 2008, but growth decelerated in the last quarter of the year. Paraguay's macroeconomic outlook has also been negatively affected by the deterioration in the global environment.