IMF Approves $2.7Bn Line Of Credit To Panama For Pandemic Fallout

• The International Monetary Fund (IMF) approved a $2.7Bn 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 “insurance 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, a long track record of good economic performance and policy implementation.”

(Source: Reuters)