IMF Executive Directors Conclude Visit to Panama
IMF News, May 15, 2019
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Bibliographic details
- Published: May 15, 2019
Visit details
- Press Release No. 19/166
- Date: May 15, 2019
- Delegation: A group of Directors from the 24-member Executive Board comprising Mr. Sami Geadah, Mr. Zhongxia Jin, Mr. Maher Mouminah, Mr. Thomas Ostros, Mr. Alexandre Tombini, and Mr. Piotr Trabinski
- Visit period: May 13-15
- Contact: PRESS OFFICER: Raphael Anspach; Phone: +1 202 623-7100; Email: MEDIA@IMF.org
Meetings and engagement
- Met with President Juan Carlos Varela Rodriguez
- Met with Finance and Economy Minister Eyda Varela de Chinchilla
- Engaged with other senior officials
- Met members of the financial and banking community and representatives of the private sector
Assessment of Panama’s economy and strengths
- Panama characterized as a regional trade, logistics, and financial center
- Described as one of the most dynamic economies in Latin America
- Strengths noted:
- Good policy frameworks
- Open trade
- High investment
- Emergence of a vibrant service sector
- Expansion of the Panama Canal
Challenges and policy priorities
- Continued fiscal discipline highlighted as important for future prospects
- Sustained efforts to enhance Anti-money laundering and combatting the financing of terrorism and tax transparency emphasized to solidify positive economic prospects
IMF engagement and support
- The Fund has provided technical assistance and capacity development to:
- Strengthen the authorities’ supervisory capacity
- Modernize revenue administration and oversight
- Expectation to continue strengthening cooperative relations between the IMF and Panama
Closing remarks
- Delegation expressed gratitude: “We would like to thank the authorities and the people of Panama for their warm welcome and open dialogue.”
IMF Executive Directors press statement, May 15, 2019.
