IMF Staff Country Reports

Panama: 2010 Article IV Consultation-Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Panama

Publication Date:

October 15, 2010

Electronic Access:

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Summary:

Bank financial soundness indicators are solid, with high levels of capitalization and low nonperforming loan rates. Among other measures, they include broadening of the tax base, changes to dividend taxation, an increase in the value-added tax, lower personal and corporate income tax rates, and elimination of loopholes. They welcomed the adoption of a medium-term fiscal framework and the government’s ambitious plans for fiscal consolidation over the medium term. The resilience of the banking system to the global financial crisis was welcomed.

Series:

Country Report No. 2010/314

Subject:

Banking Commercial banks Economic sectors Financial institutions Fiscal policy Fiscal stance Foreign banks Public debt Public sector