IMF Concludes Review of Panama

"Panama is still one of the fastest growing countries in the Americas."

Tuesday, November 22, 2011

A mission from the International Monetary Fund (IMF), led by Corinne Delechat, visited Panama from 7 to November 18 to conduct the annual Article IV Consultation (1). At the end of the discussion, Ms. Delechat issued the following statement in Panama City:

"Panama is still one of the fastest growing countries in the Americas. Thanks to many years of strong growth in gross domestic product (GDP), accompanied by a successful fiscal consolidation, debt ratios have declined rapidly and the credit rating of sovereign debt has improved. The financial sector proved its resilience during the international crisis of 2008-09, and stress tests conducted as part of a recent mission by the Financial Sector Assessment Program (FSAP) confirmed that the banking system would remain adequately capitalized even in difficult external conditions.

The short-term prospects are favorable, although the risks associated with global economic activity and financial stability are increasing. It is anticipated that the expansion of the Panama Canal and the government's investment program will continue to fuel demand and growth in the coming years, mitigating the adverse impact of the global outlook. It is projected that real GDP growth will exceed 8.5% in 2011 thanks to the uninterrupted soundness of the construction, trade and transport sectors, and will experience a slowdown in 2012. Inflation will remain relatively high, reaching a cumulative 5.2% in late October, but a gradual decrease is projected as pressure on raw materials continues to smooth out worldwide.”

More on this topic

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After the slowdown in growth between 2017 and early 2019, the economy has recovered since mid-2019, as a result of a rebound in services, agriculture and manufacturing, which produced an estimated 2.1% growth in 2019, reported the International Monetary Fund (IMF).

The IMF's View of Nicaragua in April 2016

May 2016

The Nicaraguan economy continues to record high growth rates and sustainable macroeconomic policies, with an average GDP growth of 5.2% in recent years.

Statement issued by the IMF:

IMF Concludes Staff Visit to Nicaragua
Press Release No. 16/191
April 29, 2016

A staff team from the International Monetary Fund (IMF) led by Gerardo Peraza visited Managua during April 25–29, 2016.

Honduras seen by the IMF in March 2015

March 2015

The organization states that the country has advanced in the process of economic stabilization and has exceeded the quantitative targets set for December 2014, also meeting the benchmarks set for March 2015.

From a press release issued by the International Monetary Fund (IMF):

Panama As Seen by the IMF

November 2012

The annual increase gross domestic product in real terms averaged about 9% in the last five years, the highest in Latin America.

A statement from the IMF reads:

IMF Concludes Mission to Panama on Article IV Consultation

Press Release No. 12/452

November 20, 2012

A mission from the International Monetary Fund (IMF), led by Corinne Delechat, visited Panama from 6th to 16th November in order to perform the annual consultation of Article IV.1 At the end of the mission, Ms. Delechat issued the following statement in Panama City:

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