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MEF: Panama hopes to leave the FATF list in October

Minister of Economics and Finance (MEF), Héctor AlexanderI confirm that Panama hope to get off the list Financial Action Task Force (FATF) in the month of October.

According to the minister, Panama has fully complied with all the actions that should have been taken and good results have been achieved regarding delisting.

He FATF visited the country From September 4 to 6to ensure that any institutions created for full compliance are also sustainable over time.

After the visit, a report will be presented at the October plenary session in Paris, where this decision will be made.

“But in European Union, there are two lists. One of money laundering, which is closely related to FATF. So, the fact of compliance with the above-mentioned international organization leads us, in a very good direction, and that we can be successful in terms of the results we can expect next year from the European Union,” Minister Alexander assured.

The official stated that the other list they are also working on, which is related to the tax issue, the very fact of all the progress they have made on the FATF issue will also make it easier to walk the path of being able to get off that list.

“Our determination is that we can leave a legacy for this country, that we can remove ourselves from the list,” he added.

Regarding Panama’s economic growth, he said that Panama has once again taken the lead in the region after the pandemic.

“For this year, the first six months show economic growth in the order of 8%. We hope to have economic growth that will continue to lead the region no less than 6% and a reduced rate of inflation.”

As for the issue of public debt, the head of the UPCG reiterated that it is being implemented with great care and great responsibility.

“The problem we have with public debt has been its important role within countercyclical policy over the years. 2020 and 2021, but currently the debt growth rate will be lower and lower, which is what is happening, and the ratio of debt to gross domestic product is also decreasing over time. Fortunately, we are achieving these goals”, concluded Alexander.

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Jason

Jason

I am Jason Root, author with 24 Instant News. I specialize in the Economy section, and have been writing for this sector for the past three years. My work focuses on the latest economic developments around the world and how these developments impact businesses and people's lives. I also write about current trends in economics, business strategies and investments.

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