IMF Completes the First Review Under the Precautionary and Liquidity Line Arrangement for Panama

• On July 28, 2021, the IMF Executive Board completed the first review under the two-year Precautionary and Liquidity Line (PLL) arrangement for Panama which was approved on January 19, 2021 in the amount equivalent to US$2.7 billion (SDR 1.884 billion). 
• The PLL serves as insurance against extreme external shocks stemming from the COVID-19 pandemic, with access in the first program year equivalent to about US$1.35 billion (0.942 billion SDR). The authorities intend to continue treating the arrangement as precautionary. 
• According to the IMF, the performance under the program has been strong and Panama continues to meet the PLL qualification criteria. The authorities remain resolute in implementing the strong policies under the PLL.

(Source: IMF)