The Superintendency of Banks of Panama (SBP) held a series of working meetings with the International Monetary Fund (IMF) mission as part of the Article IV Consultation. The meetings provided an opportunity to exchange views and analysis on the condition of Panama’s financial system, regulatory developments, and the main challenges facing the sector.
The meetings began on September 25 with a session involving technical teams from the SBP and the IMF. Discussions covered recent developments in the financial sector, the macroeconomic environment, and follow-up to the findings of the 2023 Financial Sector Assessment Program (FSAP).
Updates were also presented on the implementation and initial impact of regulations introduced in 2026 concerning administrative sanctions (Rule No. 3-2026) and the prevention of the misuse of the financial system (Rule No. 1-2026). The agenda also included discussions on virtual assets and virtual asset service providers (VASPs), particularly regarding risk assessment and regulatory approaches.
As part of the agenda, the SBP participated in a meeting of the Financial Coordination Council (FCC) on September 29. Chaired by the SBP, the Council examined cross-sectoral developments and financial system risks, follow-up on FSAP recommendations, and matters related to the Council’s operations and development.
Subsequently, SBP representatives participated in follow-up meetings with the IMF mission and the Ministry of Economy and Finance (MEF), held from October 2 to 6. These sessions provided updates on the condition of the banking sector and the macrofinancial and economic environment, as well as progress in regulation and supervisory frameworks and practices.
During the mission, the IMF highlighted the resilience of Panama’s banking system and the progress made in capital adequacy and supervision. It also underscored the importance of continuing to strengthen risk management, the bank resolution framework, and financial integrity.
These technical exchanges facilitate information sharing between national authorities and international organizations, strengthen institutional coordination, and support the assessment of challenges and opportunities related to the stability of Panama’s financial system.
