Panama: 2025 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Panama
August 25, 2025
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Following a strong rebound from the COVID-19 slump, GDP growth
slowed from 7.3 percent in 2023 to 2.9 percent in 2024, mainly due to the closure of the
Cobre Panamá copper mine. However, spillovers to the rest of the economy appear to
have been limited and non-mining GDP growth accelerated. The Panama Canal returned
to full capacity in September 2024. Inflation declined sharply from its mid-2022 peak
to -0.2 percent year-on-year at end-2024. The 2024 external position is assessed to be
broadly in line with fundamentals, and the banking system remains sound,
well-capitalized, and liquid.
slowed from 7.3 percent in 2023 to 2.9 percent in 2024, mainly due to the closure of the
Cobre Panamá copper mine. However, spillovers to the rest of the economy appear to
have been limited and non-mining GDP growth accelerated. The Panama Canal returned
to full capacity in September 2024. Inflation declined sharply from its mid-2022 peak
to -0.2 percent year-on-year at end-2024. The 2024 external position is assessed to be
broadly in line with fundamentals, and the banking system remains sound,
well-capitalized, and liquid.
Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Crime, Economic sectors, Expenditure, Public debt, Public sector
Keywords: accession to Mercosur, Anti-money laundering and combating the financing of terrorism (AML/CFT), Caribbean, Central America, Global, government process, macroeconomic performance, market expectation, Panamanian authorities, Public sector, Sta TA, unit of account
Pages:
99
Volume:
2025
DOI:
Issue:
245
Series:
Country Report No. 2025/245
Stock No:
1PANEA2025001
ISBN:
9798229020992
ISSN:
1934-7685
