Panama: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Panama

July 30, 2021

Preview Citation

Format: Chicago

Panama: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Panama, (USA: International Monetary Fund, 2021) accessed December 24, 2024

Summary

After over two decades of unprecedented economic expansion, Panama’s economy contracted sharply in 2020 amidst challenges from the COVID-19 pandemic. As conditions rapidly deteriorated, Panama requested financial support under the Rapid Financing Instrument (RFI) for 100 percent of quota equivalent to US$0.5 billion (SDR 0.4 billion) to address immediate balance of payments needs, which the IMF Executive Board approved on April 15, 2020. Subsequently, uncertainties magnified, and Panama requested a two-year arrangement under the Precautionary and Liquidity Line (PLL) for 500 percent of quota, equivalent to US$2.7 billion (SDR 1.9 billion), as insurance against extreme external shocks, which was approved by the IMF Executive Board on January 19, 2021.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), COVID-19, Crime, Expenditure, Health, International organization, Monetary policy, National accounts, Public debt

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Caribbean, Central America, COVID-19, Financial asset, Global, Headline inflation, IMF quota, IMF staff calculation, Policy advice, Portfolio examination, Tax moratorium, Transparency policy

Publication Details

Pages:

82
Volume:

---
DOI:

---
Issue:

---
Series:

Country Report No. 2021/173
Stock No:

1PANEA2021004
ISBN:

9781513588148
ISSN:

1934-7685

FACTSHEETS

RESOURCES

TOPICS

Flagship Publications

Other Publications

IMF reports and publications by country

Regional Offices

All News

See Also

For Journalists

Press Center

RESOURCES

FLAGSHIPS

KEY SERIES

IMF NOTES

IMF Staff Country Reports