• The IMF Executive Board approved today a two-year arrangement for Panama under the Precautionary and Liquidity Line (PLL) in the amount equivalent to US$2.7 billion (SDR 1.884 billion). The PLL will serve as insurance against extreme external shocks stemming from the COVID-19 pandemic.
• The access under the PLL in the first year will be equivalent to about US$1.35 billion ( 0. 942 billion SDR). The authorities intend to treat the arrangement as precautionary.
• Panama qualifies for the PLL thanks to its sound economic fundamentals, strong institutional policy frameworks, long track record of good economic performance and policy implementation, and commitment to maintain such policies in the future.
• The arrangement should boost market confidence and provide protection against downside risks.

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