{
  "title": "Panama: Second Review Under the Arrangement Under the Precautionary and Liquidity Line-Press Release; Staff Report; and Statement by the Executive Director for Panama",
  "publication": "IMF Staff Country Reports, August 22, 2022",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2022/08/19/panama-second-review-under-the-arrangement-under-the-precautionary-and-liquidity-line-press-522489",
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  "summary": "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.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- 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.\n- External imbalances remain contained.\n- 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.\n- While the outlook is favorable, it remains subject to elevated risks."
    },
    {
      "heading": "Elevated external risks",
      "content": "- War in Ukraine.\n- Faster-than-expected US monetary tightening.\n- Tighter global financial conditions.\n- Higher crude oil prices.\n- New variants of the COVID-19 virus that may derail the recovery."
    },
    {
      "heading": "Domestic risks and institutional issues",
      "content": "- Significant delays in implementing the FATF action plan to exit the grey list."
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subjects: Anti-money laundering and combating the financing of terrorism (AML/CFT), Credit, Crime, Expenditure, International organization, Monetary policy, Money, Public debt, Revenue administration\n- 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\n\n---\n\n Content in this bundle\n\n- 1panea2022001\n  - 1panea2022001 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1panea2022001 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: August 22, 2022",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400216701.002",
    "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.",
    "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.",
    "War in Ukraine.",
    "Faster-than-expected US monetary tightening.",
    "Tighter global financial conditions.",
    "Higher crude oil prices.",
    "New variants of the COVID-19 virus that may derail the recovery.",
    "Significant delays in implementing the FATF action plan to exit the grey list.",
    "Subjects: 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",
    "**1panea2022001**"
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