Central America, Panama, and the Dominican Republic Regional Resident Representative Site
Regional Resident Representative Office in Central America, Panama, and the Dominican Republic
This web page presents information about the work of the IMF in Central America, Panama and the Dominican Republic, including the activities of the IMF Regional Representative Office. Additional information can be found on the IMF country pages of the enlarged Central American region (Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua and Panama), including official IMF reports and Executive Board documents in English and Spanish that deal with Central America as a region and with each of its countries.
News and Highlights
Press Release: Central America, Panama, and the Dominican Republic: Challenges Following the 2008-09 Global Crisis
Letter of Condolence of the IMF Deputy Managing Director, Naoyuki Shinohara, to Guatemala's IMF Governor, Bank of Guatemala's President Edgar Barquín
Central America and The IMF
Press Release: Statement by IMF Deputy Managing Director Min Zhu at the Conclusion of his Visit to Nicaragua
Costa Rica: 2014 Article IV Consultation - Staff Report; Press Release; Staff Statement; and Statement by the Executive Director for Costa Rica
February 4, 2015
Series: Country Report No. 15/29
Regional Economic Outlook Update: Western Hemisphere
Growth in Latin America and the Caribbean (LAC) has slowed down more than anticipated, as weak dynamics in South America have outweighed an incipient recovery in Mexico. Lower-than-expected external demand and softer terms of trade explain some of the weakness, but domestic supply-side bottlenecks and policy uncertainties have also weighed on confidence and private demand in several economies. Notwithstanding the projected pick-up in activity over the period ahead, growth is projected to be as low as 1.3 percent in 2014 and 2.2 percent in 2015. Spare capacity remains limited, however, underscoring the urgency of supply-side reforms to boost productivity and potential growth. Monetary policy and exchange rate flexibility should continue to serve as the first line of defense against adverse shocks, while a looser fiscal stance is unwarranted in most countries, especially those with weak public finances. Financial sector risks bear close monitoring, as the confluence of lower growth, rising U.S. interest rates, and geopolitical tensions could pose a considerable challenge.