Asunción, IP Agency.- The Minister of Finance, Oscar Llamosas, met with the President of the Inter-American Development Bank (IDB), Ilan Goldfajn, where he highlighted the good growth prospects for Paraguay this year and the fiscal convergence plan following the covid-19 pandemic. 19.
For this year 2023, the country’s growth prospects are 4.5% of GDP, according to the Central Bank of Paraguay (BCP). Multilateral organizations place the forecast at 5.2%, with Paraguay being the country with the highest estimated growth in South America.
The Secretary of State also emphasized that the Government continues with its fiscal convergence plan and returns to the fiscal deficit target of 1.5% of GDP for the year 2024, following the measures adopted by the covid-19 pandemic.
He also thanked the IDB for its support in relation to assistance to strengthen the State portfolio, in key areas such as fiscal institutions, climate change policies and its support for Thematic Bond issues in order to move towards sustainable financial instruments. .
Likewise, on the occasion, the head of the Treasury also highlighted that the country has made progress in terms of structural reforms, which will be key to overcoming the impact of the global crises of recent years.
In this sense, Minister Llamosas expressed that it is essential to continue with the Bank’s support to advance the reform agenda that is still pending completion.
Llamosas participates in Panama City in the annual meeting of Governors of the IDB and the Meeting of Governors of IDB Invest, which brings together finance ministers, presidents of central banks and high authorities of the member countries of the organization.
The minister participates together with the Vice Minister of Economy, Roberto Mernes, who is the Alternate Governor; Liz Barrios, from the Debt Policy Department; and the adviser of the Office of Directors for Bolivia, Paraguay and Uruguay, Germán Rojas.
The IDB is one of the most important project financiers in Paraguay with 29 credit operations currently in execution for US$ 2,045 million for the areas of Health, Education, Transportation Infrastructure, Energy, Housing, Water and Sanitation, Technologies, among others. .
