Download or read book Panama written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Panama First Review Under the Arrangement Under the Precautionary and Liquidity Line Press Release Staff Report and Statement by the Executive Director for Panama written by International Monetary and published by International Monetary Fund. This book was released on 2021-08-02 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: Macroeconomic vulnerabilities have declined since the peak of the COVID-19 pandemic in 2020. The economy is expected to rebound swiftly in 2021 as activities return to normality and the population is increasingly vaccinated. External imbalances are contained. The fiscal position is gradually consolidated as the authorities remain committed to the revised fiscal rule, which will ensure a declining path for the NFPS debt. The outlook remains subject to elevated risks, including uncertainties arising from possible more contagious variants of the COVID-19 virus. Domestic risks include setbacks in implementing the FATF action plan to exit the grey list, delays in fiscal consolidation, and a prolonged pandemic that could exacerbate socioeconomic hardship and derail economic policies and the recovery.
Download or read book Panama written by International Monetary Fund. and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Panama written by International Monetary and published by International Monetary Fund. This book was released on 2022-08-22 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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, and 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, including global uncertainties arising from the war in Ukraine, faster-than-expected US monetary tightening, tighter global financial conditions, higher crude oil prices, and new variants of the COVID-19 virus that may derail the recovery. Domestic risks include significant delays in implementing the FATF action plan to exit the grey list.
Download or read book Panama written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2021-02-03 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: While Panama has been the most dynamic economy in Latin America over the last three decades (growing 6 percent on average), its strength is being tested by the COVID-19 global pandemic. Panama is a service-based economy that is highly integrated in the world economy and exposed to extreme shocks during the pandemic.
Download or read book Panama written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Panama 2021 Article IV Consultation Press Release Staff Report and Statement by the Executive Director for Panama written by International Monetary and published by International Monetary Fund. This book was released on 2021-07-30 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Panama written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2023-03-24 with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 101⁄2 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.
Download or read book Panama written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Panama written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2016-11-02 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2016 Article IV Consultation highlights Panama’s expected continued growth—among the strongest in Latin America—against a backdrop of low inflation, a stable financial system, and a declining current account deficit. GDP grew by 5.8 percent in 2015, and growth is projected to remain at about 6 percent in 2016 and over the medium term. The economy will be supported by the expected opening of the expanded canal and lower fuel prices. The overall fiscal deficit is expected to consolidate to 1.2 percent of GDP over the medium term. Public debt is projected as sustainable.
Download or read book Panama written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2019-01-17 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: Panama has had the longest and fastest economic expansion in recent Latin American history. The economy has expanded at an average rate of about 6 percent per annum over the last quarter of a century, with Panama achieving one of the highest per capita income in Latin America. More recently, GDP grew by about 51⁄2 percent in 2017 (driven by the expanded Canal), and then slowed to 33⁄4 percent (y/y) in H1-2018. Inflation remained subdued, reaching almost 1 percent (y/y) in September 2018. The external current account deficit stayed at 8 percent of GDP in 2017, mostly covered by FDI. The fiscal position continued to be strong, with the overall deficit of the non-financial public sector (NFPS) at about 11⁄2 percent of GDP. Credit growth has decelerated as financial conditions have started to tighten.
Download or read book Panama written by International Monetary Fund. and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Panama written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2014-06-09 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2014 Article IV Consultation highlights that Panama’s economic performance remains buoyant. Real GDP growth averaged about 8.5 percent over the past decade, the highest in Latin America, supported by an ambitious public investment program, and accompanied by strong reduction in unemployment, poverty, and income inequality. After exceeding 10 percent in 2011–2012, growth slowed to 8.4 percent in 2013 reflecting mainly a decline in Colon Free Zone activity and in Canal traffic. Growth is expected to remain strong over the medium term. Inflation is moderating, owing to the deceleration of international food and oil prices. The baseline outlook is favorable, with moderate risks.
Download or read book Panama written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Panama written by and published by . This book was released on 2015 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Backdrop and Outlook. Panama's economic growth is slowing towards its medium-term potential and is expected to remain in the 6--7 percent range over the next 5 years. Inflation has been declining due to lower oil prices and price controls imposed on some food items in July 2014. The external current account deficit remains elevated, with foreign direct investment as the main source of financing, but should moderate over time as investment winds down and the corresponding projects start generating exports. Risks. A globally integrated economy brings substantial benefits to Panama, but also makes it vulnerable to external shocks to global growth, trade, and financial markets. However, strong fundamentals and the room to implement a countercyclical fiscal response would mitigate the impact of such external shocks. Delayed reforms to financial transparency are an important risk that could restrict access to global capital and the international payments system. Policy advice. It is essential to finalize the strengthening of the Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) framework in order to comply with the international standard. The fiscal framework needs to be strengthened to serve as a solid medium-term anchor. In particular, fiscal buffers should be enhanced to cope with risks and expected or potential liabilities. In parallel, the pension system needs to be reformed, notably to address the large unfunded pension liabilities. Financial sector reforms should be geared towards implementing fully the remaining recommendations of the 2011 Financial Sector Assessment Program (FSAP), including establishing a facility for the provision of temporary liquidity to banks, improving the monitoring of external and systemic risks, upgrading the legislation on non-bank financial intermediaries, and developing further the macroprudential policy framework along with key instruments. Further investment in training, education, and healthcare will raise labor productivity and promote sustained and more inclusive growth.
Download or read book International Monetary Fund Annual Report 2021 written by International Monetary Fund. Secretary's Department and published by International Monetary Fund. This book was released on 2021-10-04 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: A recovery is underway, but the economic fallout from the global pandemic could be with us for years to come. With the crisis exacerbating prepandemic vulnerabilities, country prospects are diverging. Nearly half of emerging market and developing economies and some middle-income countries are now at risk of falling further behind, undoing much of the progress made toward achieving the UN Sustainable Development Goals.
Download or read book Vanuatu written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2019-06-13 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt: Four years after Cyclone Pam struck Vanuatu causing extensive damages, reconstruction is near completion with full recovery in sight. The authorities are now focused on implementing their broader development plans that were slowed by the rebuilding process, which will require fiscal discipline and reforms to maintain debt sustainability. The authorities should continue their constructive engagement with development partners for technical assistance, capacity development, and concessional and grant-based funding. In parallel continuing to reform and strengthen the governance of institutions and removing vulnerabilities to corruption will be important.
