IMF sees Panama GDP up 4.5% this year in rebound from copper mine closure

Aug 25 (Reuters) - Panama's economy is expected to grow 4.5% this year as the impact fades from the closure in late 2023 of First Quantum Minerals' Cobre Panama copper mine, and non-mining sectors continue to grow, the International Monetary Fund's executive board said on Monday.
"The economy is recovering from the impact of the Cobre Panama mine closure," it said in a statement.

The IMF added that a spending reduction plan approved by the cabinet, if fully implemented, could bring the government’s 2025 fiscal target within reach.