Panama has fully complied with all the actions that should be done and good results have been achieved.

The Minister of Economy and Finance (MEF), Héctor Alexander, said that Panama hopes to leave the list of the Financial Action Group (FATF)in the month of October.

According to the minister, Panama has fully complied with all the actions that should be done and good results have been achieved that have to do with leaving the lists.

The FATF paid a visit to the country, from September 4 to 6, to verify that all the institutionality that had been created for full compliance, is also sustainable over time.

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

“But in the European Union, there are two lists. One of money laundering, which is closely linked to FATF. So the fact of complying with the aforementioned international organization leads us, in a very good direction, also to be able to be successful in terms of what results we can expect next year of the European Union,” said Minister Alexander.

The official said that the other list that they are also working on, which has to do with the fiscal issue, the mere fact of all the progress they have had on the FATF issue, will also make it easier to walk on the route of being able to leave that list.

“Our commitment is that we can leave as a legacy for this country, that we may have left the lists,” he added.

Regarding Panama’s economic growth, he said that, after the pandemic, Panama has once again regained the leadership of the region.

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

Regarding the issue of public debt, the head of the MEF, reiterated that it has been carried out very carefully and with a lot of responsibility.

“The problem we have in terms of public debt was its important role within what was the anti-cyclical policy during the years 2020 and 2021, but currently the rate of debt growth is going to be lower and lower, which is being fulfilled and that also the debt-gross domestic product ratio is decreasing over time. Fortunately, we are achieving those goals,” Alexander concluded.