Panama [electronic resource] : 2003 Article IV Consultation — Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Panama.

International Monetary Fund
Washington, D.C. : International Monetary Fund, 2006.
IMF eLibrary
IMF Staff Country Reports; Country Report No. 06/130.
IMF Staff Country Reports; Country Report No. 06/130
Government document
1 online resource (65 p.)
Local subjects:
Accumulation of arrears.
Amortization payments.
Article IV consultation reports.
Balance of payments.
Budgetary central government.
Current account.
Current account balance.
Current account deficit.
Data processing.
Debt burden.
Debt dynamics.
Debt management.
Debt management strategy.
Debt outstanding.
Debt ratio.
Debt service.
Debt statistics.
Debt stock.
Debt sustainability.
Debt sustainability analysis.
Domestic currency.
Domestic debt.
Domestic financing.
Economic indicators.
Expenditure restraint.
External debt.
External debt statistics.
External debt sustainability.
External financing.
External public debt.
Financial sector.
Fiscal accounts.
Fiscal assumptions.
Fiscal data.
Fiscal deficit.
Fiscal deficits.
Fiscal discipline.
Fiscal impact.
Fiscal incentives.
Fiscal liabilities.
Fiscal measures.
Fiscal operations.
Fiscal policies.
Fiscal policy.
Fiscal position.
Fiscal program.
Fiscal reforms.
Fiscal responsibility.
Fiscal responsibility law.
Fiscal rules.
Fiscal stance.
Fiscal sustainability.
General resources account.
Government debt.
Government expenditure.
Interest expenditure.
Labor markets.
Long-term debt.
Maturity structure of debt.
Medium-term debt sustainability.
Medium-term fiscal sustainability.
Primary deficit.
Primary expenditure.
Private creditors.
Private sector debt.
Prudent fiscal policies.
Public debt.
Public finances.
Public sector borrowing.
Public sector debt.
Public sector management.
Short-term debt.
Sovereign bond.
Staff Reports.
Tax administration.
Tax base.
Tax collections.
Tax evasion.
Tax incentives.
Tax reductions.
Tax reform.
Tax revenue.
Total external debt.
Trade policy.
This 2003 Article IV Consultation for Panama reports that the medium-term outlook is sound, assuming continued pursuit of prudent fiscal policies and growth-enhancing structural reforms. Sustained compliance with the fiscal responsibility law will require structural reforms, including improvement of tax administration. Comprehensive reform of the pension system is needed to ensure its viability. The authorities are taking some administrative steps to reduce the deficit, but comprehensive reform will have to be done by the new government.
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