Panama economy on sound foundations-IMF

The International Monetary Fund (IMF) says that Panama’s economy has solid foundations, but it showed a deactivation” in the first half of the year, with an economy growing around 3.7%.

Alejandro Santos, who led a delegation from the to the country to assess the economic situation, said that on his return to Washington the growth projection will be revisited.

Santos referred specifically to the impact of the construction strike and to the oversupply in some niches of the real estate sector.

He said the “deactivation is temporary” and it is expected that next year it will rebound since the effect of the strike would be left behind and copper exports will begin.