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LatinNews Daily - 07 August 2018

In brief: Panama

Panama: Panama’s economy & finance ministry (MEF) has revealed that it expects Panama’s GDP to grow 5.6% in 2018 and 5.9% in 2019. The forecast for 2018 comes despite the fact that in June the International Monetary Fund (IMF) announced that it was revising Panama’s growth forecast for 2018 down from 5.6% to 4.6%. The IMF cited as grounds for its 1 June announcement the impact of a strike earlier this year, which lasted over a month, called by the influential construction workers’ union, Sindicato Único de Trabajadores de la Construcción y Similares de Panamá (Suntracs), in demand of higher wages.

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