{
  "title": "Press Release: Statement by IMF Managing Director Dominique Strauss-Kahn at the Conclusion of His Visit to Panama",
  "publication": "IMF News, February 28, 2011",
  "sourceUrl": "https://www.imf.org/en/news/articles/2015/09/14/01/49/pr1157",
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  "summary": "Press Release No. 11/57; February 28, 2011.",
  "publishDate": "2011-02-28",
  "sections": [
    {
      "heading": "Visit summary and meetings",
      "content": "- Press Release No. 11/57; February 28, 2011.\n- Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), concluded his first visit to Panama as Managing Director.\n- Meetings held with:\n  - President Ricardo Martinelli Berrocal\n  - Finance Minister Alberto Vallarino Clement and his team\n  - Financial sector authorities\n- Emphasis on warm hospitality and “interesting and productive discussions.”"
    },
    {
      "heading": "Economic performance and outlook",
      "content": "- Panama “is expected to remain one of the fastest-growing countries of the Americas.”\n- Recent performance:\n  - The economy grew in 2009, when output in the region shrunk.\n  - Expanded by 7 percent in 2010.\n  - Is expected to continue to grow rapidly in 2011.\n- Identified pillars of performance:\n  - Prudent macroeconomic policies\n  - A strong banking system\n  - Dynamic investment in infrastructure"
    },
    {
      "heading": "Risks highlighted",
      "content": "- Inflationary pressures could intensify owing to:\n  - The impact of higher world commodity prices\n  - Low unemployment\n  - The ambitious public investment program\n- Notwithstanding the strong anchor of the U.S. dollar, these factors could increase inflationary risks."
    },
    {
      "heading": "Policy recommendations and financial-sector resilience",
      "content": "- Encouraged the economic team to:\n  - Build on the recent tax reforms\n  - Continue with a policy of gradual fiscal consolidation to keep domestic demand in check and prevent overheating\n- Welcomed authorities’ plans to deepen the financial sector’s resilience to shocks."
    },
    {
      "heading": "Social strategy and structural reforms",
      "content": "- Welcomed the government’s long-term economic and social strategy aiming to:\n  - Expand economic opportunities\n  - Reduce growth bottlenecks\n- Stressed that broad-based reforms that boost productivity:\n  - Provide the strongest assurance that the benefits of current prosperity will be widely shared\n  - Contribute to reducing poverty and inequality\n- Commended ongoing efforts to:\n  - Expand and upgrade the country’s social safety net\n  - Improve public transportation, education, health, and water and sanitation infrastructure\n\nSource: Press Release No. 11/57, February 28, 2011, International Monetary Fund.\n\n---\n\n\n References\n\n- Panama and the IMF\n- Press Releases\n- PRESS CENTER\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/news/articles/2015/09/14/01/49/pr1157"
    }
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    "Published: February 28, 2011",
    "Press Release No. 11/57; February 28, 2011.",
    "Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), concluded his first visit to Panama as Managing Director.",
    "Meetings held with:",
    "Emphasis on warm hospitality and “interesting and productive discussions.”",
    "Panama “is expected to remain one of the fastest-growing countries of the Americas.”",
    "Recent performance:",
    "Identified pillars of performance:",
    "Inflationary pressures could intensify owing to:",
    "Notwithstanding the strong anchor of the U.S. dollar, these factors could increase inflationary risks.",
    "Encouraged the economic team to:",
    "Welcomed authorities’ plans to deepen the financial sector’s resilience to shocks.",
    "Welcomed the government’s long-term economic and social strategy aiming to:",
    "Stressed that broad-based reforms that boost productivity:",
    "Commended ongoing efforts to:",
    "[Panama and the IMF](http://www.imf.org/external/country/PAN/index.htm)",
    "[Press Releases](https://www.imf.org/en/news/searchnews)",
    "[PRESS CENTER](http://presscenter.imf.org/)",
    "[https://www.imf.org/en/home](https://www.imf.org/en/home)"
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