Panama Negotiates Loan with the IMF

The government is trying to arrange a $1 billion loan to face possible economic difficulties.

Tuesday, August 11, 2009

Such funds would be used as "loans of last resort", in the face of economic adversity.

Alberto Vallarino, Economy and Finance Minister told "... it is a necessity that has arisen after the results of the competitiveness study of our financial center. Not having a Central Bank is being perceived as a competitive disadvantage against other financial centers".

More on this topic

El Salvador Loses Access to IMF funds

April 2012

The IMF has temporarily suspended the availability of emergency funds for El Salvador because it has not met agreed targets, having exceeded government spending.

The IMF reported that the Salvadoran government may not use a precautionary loan (SBA) of $750 million, said Carlos Acevedo, president of Banco Central de Reserva (BCR).

IMF Recognizes New Honduran Government

March 2010

The IMF has recognized the government led by Porfirio Lobo Sosa, assured María Elena Mondragón, president of the Central Bank of Honduras.

Mondragón explained she received an official communication on behalf of the IMF, naming her the representative before the institution, and Finance Minister William Chong Wong as alternate representative.

Nicaragua under IMF Review

February 2010

Should the country receive a positive grade, IMF would disburse $17.8 million out of the $35.6 million it has earmarked for Nicaragua in 2010.

Antenor Rosales, president of the Central Bank of Nicaragua, told local media that the International Monetary Fund will review the situation of the nation’s economy.

Guatemala Analyzes a Precautionary Loan Request

March 2009

The Government is analyzing whether to ask the International Monetary Fund (IMF) for a precautionary loan through a stand-by agreement.

Siglo XXI published on its website: "A precautionary loan is characterized as stand-by because the organism commits to reserving the amount requested, but the disbursement is not immediate.

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