Panama: 2010 Article IV Consultation-Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Panama

International Monetary Fund

No 2010/314, IMF Staff Country Reports from International Monetary Fund

Abstract: Bank financial soundness indicators are solid, with high levels of capitalization and low nonperforming loan rates. Among other measures, they include broadening of the tax base, changes to dividend taxation, an increase in the value-added tax, lower personal and corporate income tax rates, and elimination of loopholes. They welcomed the adoption of a medium-term fiscal framework and the government’s ambitious plans for fiscal consolidation over the medium term. The resilience of the banking system to the global financial crisis was welcomed.

Keywords: ISCR; CR; deficit; banking system stability; FDI; FDI inflow; deficit ceiling; IMF staff estimate; return on assets; Foreign banks; Commercial banks; Public sector; Fiscal stance; Global; Central America (search for similar items in EconPapers)
Pages: 50
Date: 2010-10-15
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