Panama: Second Review Under the Arrangement Under the Precautionary and Liquidity Line-Press Release; Staff Report; and Statement by the Executive Director for Panama

Publication Date:

August 22, 2022

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

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.

Series:

Country Report No. 2022/276

Subject:

Frequency:

regular

English

Publication Date:

August 22, 2022

ISBN/ISSN:

9798400216701/1934-7685

Stock No:

1PANEA2022001

Pages:

70

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