Panama: 2009 Article IV Consultation: Staff Report; Staff Statement and Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Panama
July 13, 2009
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Strong economic fundamentals helped Panama contain the adverse impact of the global economic downturn and financial turmoil. The 2009 Article IV Consultation highlights that real GDP of Panama in 2008 grew by 9.2 percent. Panama’s large banking system has weathered the global financial crisis relatively well. Executive Directors have noted that Panama is facing the global economic crisis from a position of strength. Directors have also commended the authorities for the fiscal consolidation of recent years and the associated rapid decline in the public debt-to-GDP ratio.
Subject: Banking, Commercial banks, Credit, Economic sectors, External debt, Financial institutions, Money, Public debt, Public sector, Revenue administration
Keywords: Caribbean, CD alliance, Central America, Commercial banks, correspondent bank credit line, CR, Credit, Global, IDB fund, ISCR, nontax revenue, Panama, Public sector, staff appraisal, Western Hemisphere
Pages:
59
Volume:
2009
DOI:
Issue:
207
Series:
Country Report No. 2009/207
Stock No:
1PANEA2009001
ISBN:
9781451830910
ISSN:
1934-7685
