Panama’s short-term economic outlook uncertain after mine closure, IMF says
Cobre Panamá worker. (Image courtesy of Cobre Panama.)
Panama’s short-term economic outlook is subject to significant uncertainty, the International Monetary Fund (IMF) said on Thursday, as the nation deals with the fallout from the closure of a lucrative copper mine run by First Quantum.
Key risks to Panama’s economy include a potential loss of investment-grade status from credit rating agencies, further social unrest and international arbitration proceedings over the halt to copper mining, the IMF said in a statement.
(By Kylie Madry; Editing by David Alire Garcia)
Cobre Panama: How a $10 billion copper mine is now sitting idle in the jungle
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