01752cas a2200241 a 4500 AALejournalIMF017204 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475550863 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Western Hemisphere Dept. Panama : Selected Issues. Washington, D.C. : International Monetary Fund, 2016. 1 online resource (61 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This Selected Issues paper assesses the effectiveness of Panama's fiscal framework. The fiscal framework of Panama has played an important role in enhancing fiscal discipline since its establishment in 2009. Since the current fiscal framework went into effect in 2009, the primary balance and debt-to-GDP ratio of the nonfinancial public sector have improved significantly on average compared with those in 2000-08. The fiscal impulse given the output gap also shows that fiscal policy was less procyclical in 2009-15 than in 2001-08. However, there are options to better align the framework with best practice, including reducing unintended procyclicality, increasing transparency, and improving accountability. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2016/338 Full text available on IMF http://elibrary.imf.org/view/journals/002/2016/338/002.2016.issue-338-en.xml IMF e-Library