Panama: Second Review Under the Arrangement Under the Precautionary and Liquidity Line-Press Release; Staff Report; and Statement by the Executive Director for Panama
August 22, 2022
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Panama: Second Review Under the Arrangement Under the Precautionary and Liquidity Line-Press Release; Staff Report; and Statement by the Executive Director for Panama, (USA: International Monetary Fund, 2022) accessed November 14, 2024
Summary
Despite continuing challenges from the COVID-19 pandemic and new risks emanating from global uncertainties, a combination of sound policy measures and a resolute vaccination program have supported a gradual return to normality and underpin a rebound in economic activities. External imbalances remain contained, and fiscal consolidation is underway as the authorities are adhering to the fiscal rule, which ensures a declining path for the public debt to GDP ratio. While the outlook is favorable, it remains subject to elevated risks, including global uncertainties arising from the war in Ukraine, faster-than-expected US monetary tightening, tighter global financial conditions, higher crude oil prices, and new variants of the COVID-19 virus that may derail the recovery. Domestic risks include significant delays in implementing the FATF action plan to exit the grey list.
Publication Details
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Pages:
70
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Volume:
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DOI:
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Issue:
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Series:
Country Report No. 2022/276
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Stock No:
1PANEA2022001
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ISBN:
9798400216701
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ISSN:
1934-7685
