The IMF lends $ 515 million to Panama to finance its fight against COVID-19

  • The Executive Board of the International Monetary Fund (IMF) approved an emergency request for the disbursement of $ 515 million to Panama to help the country meet its urgent balance of payments needs stemming from the fight against the COVID-19 pandemic.
  • This was announced this Thursday by the institution in a statement in which it explained that the approval of the loan to Panama was carried out through the Rapid Financing window (IFR).
  • The IMF affirmed that Panama has been forced to request this emergency financial assistance since the virus, which until Wednesday had caused 3,751 infections and 103 deaths in the country, has hit the Panamanian economy and caused an increase in the budget deficit.

 (Source: Fitch)