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Paraguay's financial system sees dip in lending, deposits in February

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Paraguay's financial system sees dip in lending, deposits in February

Paraguay's financial system saw its lending operations anddeposits fall in February by 2% and 1%, respectively, from the previous month, La Nación reported March 28, citingfigures from Banco Central delParaguay.

However, loan growth recorded in February was up 18% yearover year, while deposits are also 13% above year-ago levels, the publicationnoted.

Experts attributed the monthly drop to the slowdown in the country'seconomic activity, the report said. The lower level of deposits was alsoaffected by dollarization, while loans also dipped due to a significant drop inconsumption in major sectors of the economy, the publication noted.