Panama: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Panama
March 24, 2023
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Panama: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Panama, (USA: International Monetary Fund, 2023) accessed November 26, 2024
Summary
Panama was hit hard by the covid-19 pandemic, but the recovery has been strong. GDP expanded by 15.3 percent in 2021 and a projected 9 percent in 2022. Inflation is low compared with other countries, in part the result of temporary subsidies on fuel and food. The fiscal deficit declined from 10½ percent of GDP in 2020 to 4 percent of GDP in 2022 and central government gross debt is estimated at 60 percent of GDP at end-2022. Banks are, on average, well capitalized and liquid. As insurance against external shocks, the IMF Executive Board approved a two-year Precautionary and Liquidity Line (PLL) arrangement for 500 percent of quota, equivalent to US$2.7 billion (SDR 1.884 billion), on January 19, 2021.
Publication Details
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Pages:
97
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Volume:
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DOI:
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Issue:
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Series:
Country Report No. 2023/122
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Stock No:
1PANEA2023002
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ISBN:
9798400237942
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ISSN:
1934-7685
