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Weekly Report - 29 August 2019 (WR-19-34)

PARAGUAY: Taking extraordinary measures to avert recession

“Paraguay is experiencing a combination of adverse internal and external events that affect economic activity… warranting the adoption of extraordinary measures to ensure that growth takes off in 2020”. This is how the finance minister, Benigno López, has described the current state of the country’s economy after the latest official figures showed that economic activity has been steadily falling in the first half of the year. Faced with this scenario Paraguay’s central bank (BCP) has adopted measures to try to stimulate the economy. But there are concerns that even these actions will not be enough to stop the economy from contracting this year.

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