The world economy is experiencing a very strong but uneven recovery, with many emerging market and developing economies facing obstacles to vaccination. The global outlook remains uncertain, with major risks around the path of the pandemic and the possibility of financial stress amid large debt loads. Policy makers face a difficult balancing act as they seek to nurture the recovery while safeguarding price stability and fiscal sustainability. A comprehensive set of policies will be required to promote a strong recovery that mitigates inequality and enhances environmental sustainability, ultimately putting economies on a path of green, resilient, and inclusive development. Prominent among the necessary policies are efforts to lower trade costs so that trade can once again become a robust engine of growth. This year marks the 30th anniversary of the Global Economic Prospects. The Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). Each edition includes analytical pieces on topical policy challenges faced by these economies.

The transition to democracy in Paraguay has been one of the most difficult in Latin America. This book highlights the limitations of the process of democratisation in a country which lacked a previous democratic tradition and where the legacy of the harsh regime of Alfredo Stroessner (1954-89) is enduring. The book describes the nature of the Stroessner regime, examines the actors in the democratisation process, and shows how they influenced the policies of the transition governments.

Land-locked Paraguay is one of the smaller nations of Latin America, whose global image is now changing very rapidly. In the process, the tired stereotype of a “forgotten” country comprising only military dictators, Nazis, and steam trains is being rapidly discarded. Indeed Paraguay is now no longer off the map and its unique history is attracting growing interest. This third edition of Historical Dictionary of Paraguay covers its history through a chronology, an introductory essay, appendixes, and an extensive bibliography. The dictionary section has over 1000 cross-referenced entries on important personalities, politics, economy, foreign relations, religion, and culture. This book is an excellent access point for students, researchers, and anyone wanting to know more about Paraguay.

First Published in 2002. The Regional Handbooks of Economic Development series provides accessible overviews of countries within their larger domestic and international contexts, focusing on the relations among regions as they meet the challenges of the twenty first century. The series allows the non-specialist student to explore a wide range of complex factors-social and political as well as economic-that affect the growth of developing regions in Asia, Europe, and South America. Each Handbook provides an overview chapter discussing the region's economic conditions within an historical and political context, as well as 20 or more chapter-length essays written by recognized experts, which analyze the key issues affecting a region's economy: its population, natural resources, foreign trade, labor problems, and economic inequalities, and other vital factors. In addition, the volumes offer useful support materials, including a series of appendices that include a detailed chronology of events in the region, a glossary of terms, biographical entries on key personalities, an annotated bibliography of further reading, and a comprehensive analytical index.

This paper examines Paraguay’s 2004 Article IV Consultation and Second Review Under the Stand-By Arrangement and Requests for Waiver and Modifications of Performance Criteria. Paraguay’s economy has stabilized in 2004, but growth remains modest. A late season drought depressed output of soy, the largest export crop, reducing expected agricultural output growth to near zero, but non-agricultural output is recovering. The guaraní has strengthened by 4 percent against the U.S. dollar so far in 2004. The fiscal situation has improved markedly since the new government took office in August 2003.