Panama: Second Review Under the Arrangement Under the Precautionary and Liquidity Line-Press Release; Staff Report; and Statement by the Executive Director for Panama
IMF Staff Country Reports, August 22, 2022
Source details
- Canonical URL
- Panama: Second Review Under the Arrangement Under the Precautionary and Liquidity Line-Press Release; Staff Report; and Statement by the Executive Director for Panama
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Bibliographic details
- Published: August 22, 2022
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400216701.002
Overview
- 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.
- 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.
Elevated external risks
- War in Ukraine.
- Faster-than-expected US monetary tightening.
- Tighter global financial conditions.
- Higher crude oil prices.
- New variants of the COVID-19 virus that may derail the recovery.
Domestic risks and institutional issues
- Significant delays in implementing the FATF action plan to exit the grey list.
Subjects and keywords
- Subjects: Anti-money laundering and combating the financing of terrorism (AML/CFT), Credit, Crime, Expenditure, International organization, Monetary policy, Money, Public debt, Revenue administration
- Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Banco Nacional de Panamá, Credit, Global, PLL equivalent, PLL qualification criteria, PLL review, sound policy
Content in this bundle
- 1panea2022001