* The International Monetary Fund (IMF) has authorised the immediate release of a US$274m emergency assistance loan through its Rapid Financing Instrument (RFI) to help Paraguay address urgent balance of payments demands that have arisen due to the coronavirus (Covid-19) pandemic. In a press release, the IMF stated that in light of efforts by the government led by President
Mario Abdo Benítez to contain the pandemic, including a significant boost in healthcare spending and an expansion of the social safety net, Paraguay’s fiscal deficit is predicted to expand to 4.5% of GDP this year, while the economy is forecast to contract by 1% in 2020.
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