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LatinNews Regional Monitor: Brazil & Southern Cone - 15 March 2019

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In brief: Paraguay

* Paraguay’s central bank (BCP) has released the latest instalment of its monthly economic activity indicator (Imaep), a GDP proxy measure, which shows that activity fell by 0.1% in January. A BCP report attributed the fall in the Imaep to the fall in activity in the agricultural sector resulting from a worse-than-expected soya harvest yield; and a fall in hydroelectricity production due to low water levels in the Paraná-Paraguay river system. Indeed, the BCP report notes that excluding the agricultural and hydroelectric sectors, economic activity increased by 1% in January. Despite the negative January Imaep result, the BCP has maintained its year-end GDP growth forecast at 4%.