The Panamanian government successfully funded the budget needs for the health and social expenditures required to battle the virus

PANAMA - Report 27 Mar 2020 by Alex Diamond and Marco Fernandez

In the absence of monetary stimuli in a dollarized economy, the Ministry of Economics and Finance is giving the final touches to the pre-funding package of public sector expenditures for additional subsidies to poor families (cash and in-kind transfers). The MEF successfully floated US$ 2.5 billion with a 35-year maturity and 4.5% yield, plus a potential US$ 700 million from the IMF, plus an undisclosed amount from the CAF and the World Bank. The details of how to assign those funds in a transparent manner to the population is the next challenge.

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