Monday, December 19, 2011

Panama improved standing in the WEF financial index

Panama stood out among Latin American countries which have better financial development, climbing two positions located at No. 37 of 60 economies covered in the WEF (the World Economic Forum) index.

Panama shows large differences between its strengths and weaknesses in this report that measures and analyzes seven factors within three broad areas that encourage development of financial systems in the World.

WEF analyzes the policies and institutions, variety, size, depth and efficiency of financial intermediaries, and access of people and businesses to capital and financial services.

Panama ranked high with regard to the degree of financial sector liberalization (19), however, the Economic Forum found flaws in terms of enforcing contracts (58).

The country needs improvements in its policies and institutions, including the quality of education in mathematics and science (58). There are also large gaps in the time it takes to pay taxes (53) and the regulation of securities exchanges (51).

However, the country has a better position in financial stability (39), access to finance (33), access to loans (13), and a high level of foreign direct investment (5).

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