## Panama: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Panama

_IMF Staff Country Reports, July 30, 2021_

## Source details

**Canonical URL:** [Panama: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Panama](https://www.imf.org/en/publications/cr/issues/2021/07/30/panama-2021-article-iv-consultation-press-release-staff-report-and-statement-by-the-463116)

## Other formats

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## Bibliographic details
- Published: July 30, 2021
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513588148.002

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### Main findings and context
- After over two decades of unprecedented economic expansion, Panama’s economy contracted sharply in 2020 amidst challenges from the COVID-19 pandemic.
- As conditions rapidly deteriorated, Panama requested financial support under the Rapid Financing Instrument (RFI) for 100 percent of quota equivalent to US$0.5 billion (SDR 0.4 billion) to address immediate balance of payments needs; the IMF Executive Board approved this on April 15, 2020.
- Subsequently, uncertainties magnified, and Panama requested a two-year arrangement under the Precautionary and Liquidity Line (PLL) for 500 percent of quota, equivalent to US$2.7 billion (SDR 1.9 billion), as insurance against extreme external shocks; the IMF Executive Board approved this on January 19, 2021.

### Policy themes and subject areas covered
- Anti-money laundering and combating the financing of terrorism (AML/CFT)
- COVID-19
- Crime
- Expenditure
- Health
- International organization
- Monetary policy
- National accounts
- Public debt

### Keywords highlighted by the publication
- Anti-money laundering and combating the financing of terrorism (AML/CFT)
- Caribbean
- Central America
- COVID-19
- financial asset
- Global
- headline inflation
- IMF quota
- IMF staff calculation
- Policy advice
- portfolio examination
- tax moratorium
- transparency policy

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## Content in this bundle

- **1panea2021004**
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_Source: https://www.imf.org/en/publications/cr/issues/2021/07/30/panama-2021-article-iv-consultation-press-release-staff-report-and-statement-by-the-463116_