Executive Board
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May 9, 2014
January 25, 2013
February 22, 2012
June 1, 2009
July 28, 2008

Article IV Staff Reports



Projected % Change
   2014  2015
Real GDP 6.6 6.4
Consumer Prices 3.2 3.4
Source: World Economic Outlook (October 2014)
Please refer to more recent PIN/Staff reports on this country for possible revisions.

Panama: Financial Position in the Fund

Transactions with the Fund


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Panama and the IMF
Updated October 11, 2014

Show all items sorted by date | Annual Meetings Speeches (1) | Article IV Staff Reports (7) | IMF Survey Online (4) | IMF Surveys (2) | IMFC Statements (5) | Letters of Intent (1) | Offshore Financial Center Assessments (1) | Press Releases (20) | Public Information Notices (15) | Publications (27) | Speeches (4) | Transcripts (1) 
Annual Meetings Speeches
September 23, 1997 -- Statement by the Hon. Carlos A. Massad, Governor of the World Bank and the Fund for Chile on behalf of the Latin American Governors of the Fund, at the Joint Annual Discussion.
PDF File Size: 34Kb
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Article IV Staff Reports
June 09, 2014 -- Panama: 2014 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for Panama
Series: Country Report No. 14/157
April 10, 2012 -- Panama: Staff Report for the 2011 Article IV Consultation
Series: Country Report No. 12/83
October 15, 2010 -- Panama: 2010 Article IV Consultation-Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Panama
Series: Country Report No. 10/314
July 13, 2009 -- Panama: 2009 Article IV Consultation - Staff Report; Staff Statement and Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Panama
Series: Country Report No. 09/207
April 06, 2006 -- Panama: 2003 Article IV Consultation -- Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Panama
Series: Country Report No. 06/130
January 06, 2006 -- Panama: 2004 Article IV Consultation - Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Panama
Series: Country Report No. 06/7
February 20, 2001 -- Panama: 2000 Article IV Consultation -- Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Authorities of Panama
Series: Country Report No. 01/39
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IMF Survey Online
March 28, 2013 -- IMF Survey : Panama: Growth to Remain Buoyant
With average annual growth rates of 8.5 percent, Panama’s per capita GDP has more than doubled over the past decade. This impressive growth performance has been driven by a steady rise in public and private investment in a stable economic environment buttressed by prudent policies.
July 18, 2012 -- IMF Survey: Central America Fares Well Despite Global Uncertainty
While domestic activity in Central America has been relatively strong despite the slow U.S. economic recovery and negative external shocks, the region faces considerable challenges for the period ahead.
July 22, 2011 -- IMF Survey: Central America Grapples with Policy Responses to Global Risks
Economic growth in Central America—home to approximately 40 million people—is expected to be about 4 percent in 2011, but rising energy prices and the tepid recovery in the United States are creating a challenging environment for the region’s policymakers.
June 24, 2009 -- IMF Survey: IMF Opens Central American Technical Assistance Center
The IMF, building on a successful model for transferring economic skills and best practices, opened a new technical assistance center in Central America on June 24, the seventh set up by the Fund around the world to train central bankers, economic officials, and others.
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IMF Surveys
June 26, 2006 -- IMF Survey:
IMF work program; de Rato in Australia, New Zealand; Improving the IEO; Swaziland, Philippines briefs; Inequality in Panama; Namibia: poverty and inequality; Gabon: post-oil era; Growth in Indian states; HIV/AIDS effect; China and India: emerging giants. PDF File Size: 677Kb
May 09, 2005 -- IMF Survey:
Bernes to head IEO; De Rato meets Chirac; Israel, Panama, Yemen, and Lithuania; Book notes - Pietra Rivoli and Thomas L. Friedman; Capital inflows to South Africa; Peter Nicholl in Bosnia; Timor-Leste, Cambodia; HIV/AIDS and aid; ECOSOC meeting on MDGs. PDF File Size: 528Kb
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IMFC Statements
October 11, 2014 -- IMFC Statement by Mr. Guido Mantega, Minister of Finance, Brazil
On behalf of: Brazil, Cabo Verde, Dominican Republic, Ecuador, Guyana, Haiti, Nicaragua, Panama, Suriname, Democratic Republic of Timor-Leste, Trinidad and Tobago. PDF File Size: 267Kb
April 11, 2014 -- IMFC Statement by Mr. Guido Mantega, Minister of Finance of Brazil
On behalf of: Brazil, Cabo Verde, Dominican Republic, Ecuador, Guyana, Haiti, Nicaragua, Panama, Suriname, Democratic Republic of Timor-Leste, Trinidad and Tobago. PDF File Size: 103Kb
October 12, 2013 -- IMFC Statement by the Honorable Alexandre Tombini, Governor, Central Bank of Brazil
On behalf of: Brazil, Cabo Verde, Dominican Republic, Ecuador, Guyana, Haiti, Nicaragua, Panama, Suriname, Democratic Republic of Timor-Leste, Trinidad and Tobago. PDF File Size: 227Kb
April 20, 2013 -- IMFC Statement Guido Mantega, Minister of Finance, Brazil
On behalf of: Brazil, Cabo Verde, Dominican Republic, Ecuador, Guyana, Haiti, Nicaragua, Panama, Suriname, Democratic Republic of Timor-Leste, Trinidad and Tobago. PDF File Size: 142Kb
October 13, 2012 -- IMFC Statement by Mr. Guido Mantega Minister of Finance, Brazil
On behalf of: Brazil, Colombia, Dominican Republic, Ecuador, Guyana, Haiti, Panama, Suriname, Trinidad and Tobago. PDF File Size: 368Kb
April 21, 2012 -- IMFC Statement by Mr. Guido Mantega, Minister of Finance of Brazil
On behalf of: Brazil, Colombia, Dominican Republic, Ecuador, Guyana, Haiti, Panama, Suriname, Trinidad and Tobago. PDF File Size: 335Kb
September 24, 2011 -- IMFC Statement by Mr. Guido Mantega, Minister of Finance of Brazil
On behalf of: Brazil, Colombia, Dominican Republic, Ecuador, Guyana, Haiti, Panama, Suriname, Trinidad and Tobago. PDF File Size: 101Kb
April 16, 2011 -- IMFC Statement by Guido Mantega, Minister of Finance, Ministerio da Fazenda, Brazil
On behalf of: Brazil, Colombia, Dominican Republic, Ecuador, Guyana, Haiti, Panama, Suriname, Trinidad and Tobago. PDF File Size: 336Kb
October 09, 2010 -- IMFC Statement by Guido Mantega, Minister of Finance, Ministerio da Fazenda, Brazil
On behalf of: Brazil, Colombia, Dominican Republic, Ecuador, Guyana, Haiti, Panama, Suriname, Trinidad and Tobago. PDF File Size: 282Kb
April 24, 2010 -- IMFC Statement by Guido Mantega Minister of Finance, Ministerio da Fazenda Brazil
On behalf of: Brazil, Colombia, Dominican Republic, Ecuador, Guyana, Haiti, Panama, Suriname, Trinidad and Tobago. PDF File Size: 329Kb
October 04, 2009 -- IMFC Statement by the Honourable Guido Mantega
On behalf of: Brazil, Colombia, Dominican Republic, Ecuador, Guyana, Haiti, Panama, Suriname, Trinidad and Tobago. PDF File Size: 293Kb
April 25, 2009 -- IMFC Statement by Mr. Guido Mantega, Minister of Finance of Brazil
On behalf of: Brazil, Colombia, Dominican Republic, Ecuador, Guyana, Haiti, Panama, Suriname, Trinidad and Tobago. PDF File Size: 197Kb
October 11, 2008 -- IMFC Statement by Guido Mantega, Minister of Finance of Brazil
On behalf of: Brazil, Colombia, Dominican Republic, Ecuador, Guyana, Haiti, Panama, Suriname, Trinidad and Tobago. PDF File Size: 343Kb
April 12, 2008 -- IMFC Statement by Mr. Guido Mantega Minister of Finance of Brazil
On behalf of: Brazil, Colombia, Dominican Republic, Ecuador, Guyana, Haiti, Panama, Suriname, Trinidad and Tobago. PDF File Size: 292Kb
October 20, 2007 -- IMFC Statement by Guido Mantega, Minister of Finance, Brazil
On behalf of: Brazil, Colombia, Dominican Republic, Ecuador, Guyana, Haiti, Panama, Suriname, Trinidad and Tobago. PDF File Size: 176Kb
September 17, 2006 -- IMFC Statement by Mr. Guido Mantega, Minister of Finance of Brazil
On behalf of: Brazil, Colombia, Dominican Republic, Ecuador, Guyana, Haiti, Panama, Suriname, Trinidad and Tobago. PDF File Size: 218Kb
September 28, 2002 -- IMFC Statement by Mr. Pedro Malan, Minister of Finance of Brazil, on behalf of the Constituency comprising Brazil, Colombia, Dominican Republic, Ecuador, Guyana, Haiti, Panama, Suriname, and Trinidad and Tobago
The International Monetary and Financial Committee statement on behalf of the Constituency comprising Brazil, Colombia, Dominican Republic, Ecuador, Guyana, Haiti, Panama, Suriname, and Trinidad and Tobago
April 20, 2002 -- Statement by Mr. Pedro Malan, Minister of Finance of Brazil to the International Monetary and Financial Committee, Washington, D. C., April, 20, 2002
The International Monetary and Financial Committee statement on behalf of the constituency comprising Costa Rica, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Spain, Venezuela
April 20, 2002 -- IMFC Statement by the Honorable Nicolás Eyzaguirre Minister of Finance of Chile Speaking on behalf of the Southern Cone Countries, Washington, D. C., April, 20, 2002
The International Monetary and Financial Committee statement on behalf of the constituency comprising Costa Rica, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Spain, Venezuela
November 17, 2001 -- Statement by Mr. Pedro Malan, Minister of Finance of Brazil, at the International Monetary and Financial Committee, Ottawa, November 17, 2001
The International Monetary and Financial Committee member for the constituency consisting of Brazil, Colombia, Dominican Republic, Ecuador, Guyana, Haiti, Panama, Suriname, and Trinidad and Tobago
April 29, 2001 -- Statement by Mr. Pedro Malan, Minister of Finance of Brazil to the International Monetary and Financial Committee Meeting April 29, 2001
The International Monetary and Financial Committee member for the constituency consisting of Brazil, Colombia, Dominican Republic, Ecuador, Guyana, Haiti, Panama, Suriname, and Trinidad and Tobago
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Letters of Intent
June 12, 2000 -- Panama Letter of Intent and Technical Memorandum of Understanding, June 12, 2000
This Letter of Intent of the government of Panama describes the policies that Panama intends to implement in the context of its request for financial support from the IMF.
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Offshore Financial Center Assessments
August 31, 2001 -- OFCA Banking Sector Assessment, August 2001
A detailed assessment by IMF staff of the extent to which OFCs meet the standards advocated by the international standard-setters, and of any further action required to meet these standards. PDF File Size: 852Kb
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Press Releases
June 10, 2014 -- Press Release: IMF's Central American Technical Assistance Centre to receive €6.3 million from the European Union
May 19, 2014 -- Press Release: IMF Executive Board Concludes 2014 Article IV Consultation with Panama
February 24, 2014 -- Press Release: IMF Concludes 2014 Article IV Mission to Panama
November 22, 2013 -- Press Release: Statement at the Conclusion of the XII Regional Conference on Central America, Panama, and the Dominican Republic
November 20, 2012 -- Press Release: IMF Concludes 2012 Article IV Mission to Panama
July 27, 2012 -- Press Release: Statement at the Conclusion of the IMF Co-Sponsored XI Regional Conference on Central America, Panama and the Dominican Republic
November 21, 2011 -- Press Release: Statement by an IMF Article IV Mission to Panama
July 29, 2011 -- Press Release: Statement at the Conclusion of the IMF Co-Sponsored Tenth Regional Conference on Central America, Panama, and the Dominican Republic
February 28, 2011 -- Press Release: Statement by IMF Managing Director Dominique Strauss-Kahn at the Conclusion of His Visit to Panama
July 16, 2010 -- Press Release: Statement at the Conclusion of the Ninth Regional Conference on Central America, Panama, and the Dominican Republic
June 26, 2009 -- Press Release: Communiqué at the Conclusion of the Eighth Annual Regional Conference on Central America, Panama, and the Dominican Republic
June 24, 2009 -- Press Release: IMF Inaugurates Technical Assistance Center for Central America, Panama and the Dominican Republic
March 30, 2009 -- Press Release: IMF to Open New Regional Technical Assistance Center for Central America, Panama, and the Dominican Republic
June 27, 2008 -- Press Release: Communiqué at the Conclusion of the Seventh Annual Regional Conference on Central America, Panama, and the Dominican Republic
June 29, 2007 -- Press Release: Communiqué at the Conclusion of the Sixth Annual Regional Conference on Central America, Panama, and the Dominican Republic
June 30, 2006 -- Press Release: Statement by Mr. Agustín Carstens, Deputy Managing Director of the IMF, on the Occasion of the Fifth Annual Regional Conference on Central America, Panama, and the Dominican Republic
November 24, 2004 -- Press Release: Statement by an IMF Article IV Staff Mission to Panama
June 30, 2000 -- Press Release: IMF Approves Stand-By Credit for Panama
December 10, 1997 -- Press Release: IMF Approves Three-Year Extended Fund Facility for Panama
November 29, 1995 -- Press Release: IMF Approves Stand-by Credit for Panama
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Public Information Notices
March 13, 2013 -- Panama: IMF Executive Board Concludes 2012 Article IV Consultation
Each Public Information Notice contains a background section, a table of selected economic indicators, and an Executive Board assessment.
March 16, 2012 -- Public Information Notice: IMF Executive Board Concludes 2011 Article IV Consultation with Panama
Each Public Information Notice contains a background section, a table of selected economic indicators, and an Executive Board assessment.
August 03, 2010 -- Public Information Notice: IMF Executive Board Concludes 2010 Article IV Consultation with Panama
Each Public Information Notice contains a background section, a table of selected economic indicators, and an Executive Board assessment.
July 02, 2009 -- Public Information Notice: IMF Executive Board Concludes 2009 Article IV Consultation with Panama
Each Public Information Notice contains a background section, a table of selected economic indicators, and an Executive Board assessment.
August 28, 2008 -- Public Information Notice: IMF Executive Board Concludes 2008 Article IV Consultation with Panama
Each Public Information Notice contains a background section, a table of selected economic indicators, and an Executive Board assessment.
March 15, 2007 -- Public Information Notice: IMF Executive Board Concludes 2006 Article IV Consultation with Panama
Each Public Information Notice contains a background section, a table of selected economic indicators, and an Executive Board assessment.
March 14, 2006 -- Public Information Notice: IMF Executive Board Concludes 2005 Article IV Consultation with Panama
Each Public Information Notice contains a background section, a table of selected economic indicators, and an Executive Board assessment.
April 12, 2005 -- Public Information Notice: IMF Executive Board Concludes Article IV Consultation with Panama
Each Public Information Notice contains a background section, a table of selected economic indicators, and an Executive Board assessment.
March 26, 2004 -- Public Information Notice: IMF Concludes 2003 Article IV Consultation with Panama
Each Public Information Notice contains a background section, a table of selected economic indicators, and an Executive Board assessment.
July 18, 2002 -- Public Information Notice: IMF Concludes 2002 Article IV Consultation with Panama
Each Public Information Notice contains a background section, a table of selected economic indicators, and an Executive Board assessment.
February 16, 2001 -- Public Information Notice: IMF Concludes Article IV Consultation with Panama
Public Information Notices (PINs) form part of the IMF's efforts to promote transparency of the IMF's views and analysis of economic developments and policies.
February 16, 2001 -- Public Information Notice: IMF Concludes Article IV Consultation with Panama
Public Information Notices (PINs) form part of the IMF's efforts to promote transparency of the IMF's views and analysis of economic developments and policies.
February 28, 2000 -- Public Information Notice: IMF Concludes Article IV Consultation with Panama
Public Information Notices (PINs) form part of the IMF's efforts to promote transparency of the IMF's views and analysis of economic developments and policies.
January 05, 1999 -- Public Information Notice: IMF Concludes Article IV Consultation with Panama
Public Information Notices (PINs) form part of the IMF's efforts to promote transparency of the IMF's views and analysis of economic developments and policies.
December 22, 1997 -- Press Information Notice: IMF Concludes Article IV Consultation with Panama
Public Information Notices (PINs) form part of the IMF's efforts to promote transparency of the IMF's views and analysis of economic developments and policies.
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Publications
February 18, 2014 -- Panama: Detailed Assessment Report—FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism
Series: Country Report No. 14/54
February 18, 2014 -- Panama: Report on Observance of Standards and Codes—FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism
Series: Country Report No. 14/55
June 12, 2013 -- Potential Output and Output Gap in Central America, Panama and Dominican Republic
Author/Editor: Johnson, Christian
Series: Working Paper No. 13/145
March 28, 2013 -- Panama: 2012 Article IV Consultation
Series: Country Report No. 13/88
March 28, 2013 -- Panama: Selected Issues
Series: Country Report No. 13/89
September 27, 2012 -- Central America, Panama, and the Dominican Republic: Trade Integration and Economic Performance
Author/Editor: Medina Cas, Stephanie | Swiston, Andrew | Barrot, Luis-Diego
Series: Working Paper No. 12/234
July 16, 2012 -- Central America, Panama, and the Dominican Republic: Challenges Following the 2008-09 Global Crisis
Author/Editor: Marco Pinon | Alejandro López Mejía | Mario Garza | Fernando L Delgado
December 01, 2011 -- Developments in Financial Supervision and the Use of Macroprudential Measures in Central America
Author/Editor: Delgado, Fernando L | Meza, Mynor
Series: Working Paper No. 11/299
September 01, 2011 -- A Debt Intolerance Framework Applied to Central America, Panama and the Dominican Republic
Author/Editor: Bannister, Geoffrey J. | Barrot, Luis-Diego
Series: Working Paper No. 11/220
October 15, 2010 -- Panama: Selected Issues Paper
Series: Country Report No. 10/315
December 01, 2007 -- Equity and Private Debt Markets in Central America, Panama, and the Dominican Republic
Author/Editor: Shah, Hemant | Carvajal, Ana | Bannister, Geoffrey J. | Chan-Lau, Jorge A. | Guerra, Ivan
Series: Working Paper No. 07/288
June 01, 2007 -- Public Debt Markets in Central America, Panama, and the Dominican Republic
Author/Editor: Shah, Hemant | Jobst, Andreas | Valderrama, Laura | Guerra, Ivan
Series: Working Paper No. 07/147
February 15, 2007 -- Panama: Assessment of Financial Sector Supervision and Regulation, including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision, Insurance Supervision, and Securities Regulation
Series: Country Report No. 07/66
February 15, 2007 -- Panama: Detailed Assessments of Observance of Standards and Codes for Banking Supervision, Insurance Supervision, and Securities Regulation
Series: Country Report No. 07/67
October 26, 2006 -- Panama: Report on the Observance of Standards and Codes - Data Module; Response by the Authorities; and Detailed Assessments Using the Data Quality Assessment Framework
Series: Country Report No. 06/387
January 26, 2006 -- Panama: Selected Issues and Statistical Appendix
Series: Country Report No. 06/26
January 06, 2006 -- Panama: Selected Issues and Statistical Appendix
Series: Country Report No. 06/3
January 01, 2004 -- How Private Creditors Fared in Emerging Debt Markets, 1970-2000
Author/Editor: Klingen, Christoph | Weder, Beatrice | Zettelmeyer, Jeromin
Series: Working Paper No. 04/13
March 01, 2003 -- Determinants of the Choice of Exchange Rate Regimes in Six Central American Countries: An Empirical Analysis
Author/Editor: Papaioannou, Michael G.
Series: Working Paper No. 03/59
December 01, 2002 -- Central American Tax Reform: Trends and Possibilities
Author/Editor: Stotsky, Janet Gale | WoldeMariam, Asegedech
Series: Working Paper No. 02/227
November 01, 2002 -- Expenditure Issues and Governance in Central America
Author/Editor: Corbacho, Ana | Davoodi, Hamid Reza
Series: Working Paper No. 02/187
February 23, 2001 -- Panama: Recent Economic Developments
Series: Country Report No. 01/41
April 03, 2000 -- Panama: Selected Issues and Statistical Appendix
Series: IMF Staff Country Report No. 00/44
March 01, 1999 -- Panama - Recent Economic Developments
Series: IMF Staff Country Report No. 99/07
February 11, 1998 -- Panama - Statistical Annex
Series: IMF Staff Country Report No. 98/10
September 06, 1996 -- Panama--Recent Economic Developments
Series: IMF Staff Country Report No. 96/82
July 20, 1995 -- Panama - Statistical Annex
Series: IMF Staff Country Report No. 95/58
Notes: This statistical annex on Panama was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country. In releasing this document for public use, confidential material may have been removed at the request of the member.
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Speeches
July 22, 2009 -- The IMF's Response to the Global Crisis, Remarks by IMF Deputy Managing Director Takatoshi Kato, At the Eighth Annual Regional Conference on Central America, Panama, and the Dominican Republic
June 28, 2007 -- Taking Advantage of the Benign Global Environment: A Time for Reforms Remarks by IMF Deputy Managing Director Murilo Portugal at the Sixth Annual Regional Conference on Central America, Panama, and the Dominican Republic
June 29, 2006 -- Reshaping the IMF's Role in the 21st Century, Remarks by Agustín Carstens, Deputy Managing Director, IMF
At the Fifth Annual Regional Conference on Central America, Panama and the Dominican Republic
January 06, 2001 -- Exchange Rate Regimes: Is the Bipolar View Correct? -- Address by Stanley Fischer
Prepared for delivery as the Distinguished Lecture on Economics in Government, jointly sponsored by the American Economic Association and the Society of Government Economists, at the meetings of the American Economic Association, New Orleans
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Transcripts
June 24, 1999 -- Transcript of IMF Economic Forum on Dollarization: Fad or Future for Latin America
This Economic Forum was held on June 24, 1999