BRIEFS. finance

Panama retires IMF debt

In October, Panama paid its outstanding $1.3 million debt to the International Monetary Fund (IMF), according to the latest report of the Directorate of Public Credit. But officials said that the country will continue to have a relationship with the entity.

“We have no problem with the fund," said Héctor Alexander, the minister of Economy and Finances. “We will continue to receive their recommendations and technical assessments. We have no apprehension about it publishing economic reports on Panama or expressing opinions about the economy.”

Aristides Hernández, president of the firm Latin Consulting, said the move means that the country has greater economic independence.

“The fact that the country does not owe the IMF means that Panama is less exposed to the impositions of this organization, and has greater autonomy in its economic policy decisions,” he said.