Panama: Second Review Under the Arrangement Under the Precautionary and Liquidity Line-Press Release; Staff Report; and Statement by the Executive Director for Panama
August 22, 2022
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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.
Subject: 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
Pages:
70
Volume:
2022
DOI:
Issue:
276
Series:
Country Report No. 2022/276
Stock No:
1PANEA2022001
ISBN:
9798400216701
ISSN:
1934-7685
