July 9, 2020 / 4:14 PM / a month ago

Panama gets $400 million loan for its strategy against coronavirus

PANAMA CITY (Reuters) - The Inter-American Development Bank (IDB) on Thursday said it had approved a $400 million loan for Panama to support the country’s fight against the coronavirus pandemic and help ease its impact on vulnerable households.

Panama can “obtain quick disbursement resources from the IDB to finance current emergency expenses due to the crisis, as well as the generation of a medium-term strategic fiscal policy framework to restore fiscal sustainability and ensure macroeconomic stability,” the bank said in a statement.

Reporting by Elida Moreno; Writing by Stefanie Eschenbacher; Editing by Anthony Esposito and Tom Brown

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