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LatinNews Daily - 29 October 2020

In brief: Paraguay central bank improves growth forecast

* Paraguay’s central bank (BCP) has released its updated projections for GDP growth in 2020, according to which it expects the country’s economy to contract by 1.5% – a two percentage-point improvement on its July forecast of a 3.5% contraction. The BCP cites an improvement in short-term economic indicators, the flexibilisation of restrictions put in place to contain the coronavirus (Covid-19) pandemic, and the government’s efforts to support households and companies affected by the pandemic’s economic impacts as reasons for this improved GDP forecast. The BCP notes that the global macroeconomic scenario remains dependent on the evolution of the pandemic globally, and that although the lifting of sanitary restrictions in Paraguay could be reversed, the likelihood of strict quarantines being reimposed is unlikely.

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