Panama : 2009 Article IV consultation : staff report : staff statement and supplement : public information notice on the Executive Board discussion : and statement by the Executive Director for Panama
I. Background and Near term Outlook; II. Policy Discussions; A. Outlook and Risks; B. Scope for Counter-cyclical Fiscal Policy; C. Financial System Risks; D. External Competitiveness; III. Staff Appraisal; Tables; 1. Selected Economic Indicators; 2. Summary Operations of the Nonfinancial Public Sector; 3. Summary Operations of the Central Government; 4. Monetary Accounts; 5. Commercial Bank Performance Indicators; 6. Balance of Payments; 7. Gross External Debt Flows of the Nonfinancial Public Sector; 8. Debt of the Nonfinancial Public Sector
9. Indicators of the External Position and Financial Vulnerability10. Medium-Term Macroeconomic Framework; 11. Medium-Term Balance of Payments; 12. International Investment Position (IIP); 13. Public Sector Debt Sustainability Framework, 2004-2014; Figures; 1. Recent Economic Performance; 2. External Current Account Developments, 2002-09; 3. Financial Sector Developments; 4. Fiscal Developments; 5. Canal Expansion Project; 6. Public Debt Sustainability: Bound Tests; Boxes; 1. The Slowdown in Construction; 2. The Increased Regional Role of Panama's Banks
3. The Social and Fiscal Responsibility Law4. External Stability; Annex; I. Summary of Annexes; Contents; Annex I-Relations with the Fund; Annex II-Relations with the World Bank; Annex III-Relations with the Inter-American Development Bank; Annex IV-Statistical Issues
Summary
Strong domestic fundamentals helped contain the impact of the global financial crisis but the rapid deterioration in the global environment has weakened the economic outlook
