IMF Delegation Visiting Panama

by Mike Godfrey, Tax-News.com, Washington

17 November 2004

The International Monetary Fund, as part of its annual visit to consult with and evaluate member states, has sent a five person delegation to Panama.

The delegation, which arrived on November 8 and will leave the Republic on November 23, will meet with government officials and leaders in the business, banking and private enterprise sectors to obtain an overview of the government’s plans, future opportunities and Panama’s current situation.

The mission is headed by Wayne Lewis, Chief of IMF mission to Panama and deputy Chief of the IMF for South and Central America. Accompanying Mr Lewis are Mario Dehesa, Pablo Druck, André Faria and Eric Varreydt.

The visit forms part of the compliance requirements of Article IV of the IMF´s Constitution, which establishes a process for annual consultations with member states on economic and policy issues, balance of trade patterns such as the impact of higher petroleum prices on country, fiscal and public debt matters and social progress.

The mission is undertaken regardless of whether or not the member country has a memorandum of understanding with the IMF on public policy matters, and in Panama's case, there is no such program currently structured with the multilateral body.

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