Panama: Staff Report for the 2004 Article IV Consultation

Author: International Monetary Fund

Volume/Issue: Volume 2006 Issue 007

Publication date: January 2006

ISBN: 9781451830859

$20.00

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Topics covered in this book

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Banks and Banking , Exports and Imports , Economics- Macroeconomics , Public Finance , Business and Economics - Statistics , ISCR , CR , staff report estimate , staff appraisal , deficit , estimate , staff's estimate , nonfinancial public sector deficit , Panamanian authorities , investment environment , Public sector , Commercial banks , PFM legal and regulatory frameworks , Global , Central America , South America , Africa , Caribbean

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Nepal

Grenada

Republic of Congo : 2001 Article IV

Summary

This 2004 Article IV Consultation for Panama reports that the medium-term outlook is encouraging, assuming implementation of the authorities’ fiscal program, which should put the public debt ratio on a steadily declining path. The banking system experienced a substantial recovery in 2003–04, and the financial system remains essentially sound, with favorable performance indicators and a strong regulatory framework. An expansion of the Panama Canal at an estimated cost of more than 30 percent of GDP could, if approved in a national referendum, have a far-reaching impact on the economy’s growth prospects.