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LatinNews Regional Monitor: Caribbean & Central America - 17 April 2020

In brief: IMF approves assistance for Panama

* The International Monetary Fund (IMF) has approved Panama’s request for emergency financial assistance under the Rapid Financing Instrument (RFI) of some US$515m, to meet the urgent balance of payment needs stemming from the coronavirus (Covid-19) pandemic. According to an IMF press release, the pandemic “has significantly weakened Panama’s macroeconomic outlook for 2020 and opened a balance of payments gap estimated at about US$3.7bn”. The most recent (14 April) IMF forecast expects Panama’s GDP to contract by 2% this year.

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