Economics
Americas' Growth Champion Keeps Going While Neighbors Falter
- Paraguay set for fastest Western Hemisphere growth next year
- No further interest rates cuts needed, central bank head says
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Paraguay’s central bank is not ready to give any more juice to an economy that is turning into Latin America’s growth champion.
The South American country, landlocked between Brazil, Argentina and Bolivia, is focused on keeping inflation at bay and won’t risk missing its 4.5 percent target to speed up growth as its neighbors weaken, central bank President Carlos Fernandez Valdovinos said Monday. The one percentage-point reduction to 5.75 percent in the key interest rate this year has already put monetary policy in a slightly expansionist mode, he said.