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

International Monetary Fund

No 2021/173, IMF Staff Country Reports from International Monetary Fund

Abstract: 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, which the IMF Executive Board approved 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, which was approved by the IMF Executive Board on January 19, 2021.

Keywords: portfolio examination; tax moratorium; financial asset; transparency policy; IMF quota; headline inflation; IMF staff calculation; Policy advice; COVID-19; Anti-money laundering and combating the financing of terrorism (AML/CFT); Global; Central America; Caribbean (search for similar items in EconPapers)
Pages: 82
Date: 2021-07-30
New Economics Papers: this item is included in nep-ias, nep-isf and nep-mac
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=463116 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:2021/173

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Staff Country Reports from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().