Panama: 2010 Article IV Consultation-Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Panama
October 15, 2010
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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.
Subject: Banking, Commercial banks, Economic sectors, Financial institutions, Fiscal policy, Fiscal stance, Foreign banks, Public debt, Public sector
Keywords: banking system stability, Central America, Commercial banks, CR, deficit, deficit ceiling, FDI, FDI inflow, Fiscal stance, Foreign banks, Global, IMF staff estimate, ISCR, Public sector, return on assets
Pages:
50
Volume:
2010
DOI:
Issue:
314
Series:
Country Report No. 2010/314
Stock No:
1PANEA2010001
ISBN:
9781455208630
ISSN:
1934-7685
