The pandemic continues to spread in Latin America and the Caribbean (LAC), but economic activity is picking up. After a deep contraction in April, activity started recovering in May, as lockdowns were gradually eased, consumers and firms adapted to social distancing, some countries introduced...

This 2014 Article IV Consultation highlights that a gradual economic recovery appears to be under way in Jamaica. Growth is estimated at 0.9 percent in FY2013/14, as mining, agriculture, and tourism picked up. Recorded unemployment remains high, but fell from 16 percent to 13.5 percent (in...

In the past two decades, Paraguay has seen strong growth and a sharp reduction in poverty. Strong GDP growth was the result of sound macro policies (with low inflation and low fiscal deficits and debt) and an agricultural commodity price boom which spilled over to the non-tradable sector. Growth...

The past year has been one of strong economic performance for the Western Hemisphere, notwithstanding somewhat slower growth in the United States in recent quarters. Can this performance be sustained, and what challenges does the region face? Reviewing macroeconomic prospects and risks, this...

This Western Hemisphere Regional Economic Outlook covers the United States, Canada, Latin America, and the Caribbean. The report reviews recent economic developments, discusses the economic outlook, and outlines risks and challenges ahead

KEY ISSUES Context: Paraguay has strong economic fundamentals—low debt, sizeable official reserves, and small fiscal and external imbalances. The main challenge ahead is to improve social and economic development, while strengthening the macroeconomic policy framework to cement strong...

The Paraguayan banking system compares relatively well with other Latin American banking systems. Banks are well capitalized, have ample access to deposit funding sources, and are profitable. Most importantly, the authorities have taken a number of decisive steps to strengthen supervision and...

EXECUTIVE SUMMARY Stand-By Arrangement (SBA). On July 27, 2011, the Executive Board approved a 36-month SBA for St. Kitts and Nevis for SDR 52.51 million (590 percent of quota) to support the authorities’ program (Country Report No. 11/270). The first review was completed on January 25, 2012,...

KEY ISSUES Context. Economic activity remains tepid, unemployment is high, and inflation is subdued. The fiscal and external positions have weakened, with reserves declining toward worrisome levels. Non-performing loans (NPLs) are elevated, but the financial system is well capitalized and...

This paper presents Jamaica's Third Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria report. The IMF staff report highlights that recent data is in-line with GDP growth of some 1 percent in 2013-2014. Inflation has...