Search Results

You are looking at 1 - 10 of 77 items for :

  • "sterilization bill" x
Clear All
International Monetary Fund
This technical paper focuses on the challenges faced by Paraguay’s budget resources. Paraguay’s government should adopt a forward-looking fiscal strategy. The strategy’s main goals should be to contain budget dependence on Itaipu revenues, preserve fiscal discipline, and allow for the gradual and sustainable transformation of the envisaged, yet temporary, windfall into other forms of financial, physical, and human capital. The creation of a special fund could help mobilize public support for saving part of the windfall and building a buffer for the future.
International Monetary Fund
This Article IV Consultation reports that the overall balance of the central government of Paraguay is expected to be in equilibrium, while the central bank intends to withdraw excess liquidity as necessary to limit inflation to no more than 5 percent. Executive Directors commended the Paraguayan authorities for preserving macroeconomic stability in 2009 in the face of a severe drought and the global financial crisis. They emphasized the importance of fiscal reforms, aimed at increasing the tax ratio, strengthening fiscal management, and reducing fiscal risks.
International Monetary Fund

.5 636.6 o/w current nonwage social spending 13.9 1.5 30.1 21.8 Primary balance (in percent of GDP) 0.3 0.3 0.8 0.5 Overall bal. (incl. grants), cash basis (In percent of GDP) -91.5 -1.1 -120.9 -1.4 -136.7 -1.6 -172.8 -2.0 4. Broad money grew by 37.9 percent over the 12-month period ended June 2004, largely driven by the banking system’s credit to the government . The central bank has stepped up the use of sterilization bills to control liquidity, but the impact has been limited because of the large financing needs

International Monetary Fund

III. T he M onetary P olicy T ransmission M echanism in P araguay 1 A. Introduction 1. The Central Bank of Paraguay (BCP) has a clear legal mandate to preserve the stability of prices and the financial system . The BCP’s policy monetary framework includes instruments that are in line with conventional practices, such as open-market operations with sterilization bills ( Instrumentos de Regulation Monetaria , IRM), reserve requirements that vary by type of deposit and currency, a short-term collateralized liquidity facility, 2 and, sporadically

Mr. Udaibir S Das, Jonathan Fiechter, and Tao Sun

Foreign Exchange Inflows (12-month rolling) as a Share of Total Bank Assets (In percent) Source: CEIC. The enormous size of China’s banking system and the end of easy liquidity from foreign exchange inflows have enormous implications for China’s monetary policy going forward. First and foremost, without active PBC intervention to increase money supply, the pace of lending will slow to a level that is detrimental to the targeted growth rate of 7.5 percent. To be sure, since the beginning of the year, the PBC has continued to redeem PBC sterilization bills and

International Monetary Fund

policies. The authorities have requested technical assistance of the Fund, which they believe is critical to move toward full-fledged IT regimes. 10. Consistent with the accommodative monetary policy stance, interest rates of the Central Bank’s sterilization bills were kept low throughout 2009 and 2010 . In addition, domestic-currency treasury bonds were issued at longer maturities, reflecting the increased confidence in Paraguay’s macroeconomic stability. To dissuade an eventual emergence of inflationary pressures, the Central Bank’s authorities announced a

International Monetary Fund
The statistical data on gross domestic product, consumer price index, financial operations of the central government, central government revenue and expenditure, monetary survey, summary accounts of the central bank, summary accounts of deposit money banks, sectoral distribution of credit, quarterly distribution of credit by sector and maturity, and structure of interest rates of Guinea are presented in this paper. The data on balance of payments, composition of merchandise exports, direction of trade, external public debt, and related economic indices are also presented.