IMF approves $2.7 bln line of credit to Panama for pandemic fallout

imf-approves-$2.7-bln-line-of-credit-to-panama-for-pandemic-fallout

PANAMA CITY: The () said on Tuesday it had approved a $2.7 billion line of credit for Panama to address the coronavirus pandemic.

The IMF’s executive board approved the two-year arrangement under its Precautionary and Liquidity Line (PLL) to serve as “ against extreme external shocks” that the pandemic’s economic fallout causes.

In determining the Central American country’s eligibility for PLL, the lender cited in a statement Panama’s “sound economic fundamentals, strong institutional policy frameworks, long track record of good economic performance and policy implementation.”

The line of credit will help support what the IMF described as an “adequate level of spending” on health care and other social programs designed to cushion the pandemic’s blow in Panama.

The press office of Panama’s and


Read the full story on The Himalayan Times


Read Previous

New Honda City

Read Next

FinMin assures tourism entrepreneurs of better days in the horizon

Got any Comments/ Questions?