LatinNews Daily - 04 October 2018

In a statement following a recent visit to Panama, the International Monetary Fund (IMF) stated that “Despite temporarily slowing in 2018, the economy is poised for a rebound in the near term and will remain among the most dynamic in Latin America”. The statement cites “high frequency data” which indicate that “economic activity has softened”, with growth estimated at “3.7% in H1-2018 (compared with 5.4% in 2017), reflecting a sharp slowing down in key sectors including construction, which was affected by a prolonged strike in April/May”. The IMF statement notes that the mission will finalise its revised growth projections for 2018-2019 in the coming weeks and stressed that the “balance of risks to the current forecast (i.e., 4.6 percent for 2018 and 6.8 percent for 2019) is to the downside”. Yet it expects the revised growth forecast to remain above 4% in 2018 and above 6% in 2019, supported by a recovery in construction, transport, logistics, and exports from a new copper mine.

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