(Reuters) – The Panama Canal’s expansion is driving growth and demand in Panama, where economic growth is set to exceed 8.5 percent this year, making it one of the fastest-growing countries in the Western Hemisphere, the IMF said on Monday.
“Near-term prospects are favorable, although global risks associated with economic activity and financial stability are on the rise,” the IMF said in a statement at the end of regular economic consultations with Panama’s authorities.
It said inflation would likely remain relatively high in Panama, but should gradually decline as global commodity prices ease.