Inflation threatens economy of Panama
A third of the inflation in Panama is due to the growth beyond its capacity that the country is experiencing
Friday, August 29, 2008
This opinion by Marcos Fernandez from the Indesa Holding Corp. consulting firm is reinforced by a report released yesterday by the IMF in which the international organization reveals that inflation is the main problem facing the Panamanian economy. The entity recommended that the Government cut spending in order to have a greater fiscal surplus than expected.
The country ended 2010 with inflation at 2.13%, the lowest in Central America.
Accumulated inflation from January to October was 1.8%, already exceeding the annual target given to the IMF.
The rise in food and fuel prices on international markets continues to spur inflationary expectations in Costa Rica. These concerns were first expressed by the Central Bank early in the year.
The government is trying to arrange a $1 billion loan to face possible economic difficulties.
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