IMF and BCP Announce the Reorganization of the IMF Office in Paraguay

The International Monetary Fund (IMF) and the Central Bank of Paraguay (BCP), issued the following statement today in Asunción:

“Effective July 16, the IMF office in Paraguay will be managed by the Resident Representative who will be posted in Peru. This decision is part of a modernization process in the IMF presence on the field whereby, in a number of cases, a Resident Representative covers more than one office.

“The change in the IMF office in Paraguay will not alter the Fund’s work program with the country nor its relation with the national authorities. The IMF remains committed to working closely with the Paraguayan authorities to support their goals of sustaining growth and maintaining macroeconomic and financial stability. In this context, the IMF will continue its fruitful dialogue with them through regular staff visits, while providing training and technical assistance in the areas of its expertise.

“The BCP is looking forward to continued strong relations with the IMF, in particular in the areas of policy consultations and technical assistance. The Paraguayan authorities take note of the IMF office reorganization and look forward to closely collaborating with the new regional Resident Representative on the basis of periodic visits and frequent communication. The BCP would like to thank the resident representatives that have served in Asuncion for their dedication and cooperation with the government, the civil society, and the private sector in Paraguay.

“The IMF plans to update its assessment of current economic policies and prospects during the upcoming 2011 Article IV consultation. The IMF mission is scheduled to take place in June.”