Friday, December 30, 2011

Happy 2012!


Happy New Year! ¡Feliz Año Nuevo! C Hoвым Годом!

From our office in sunny Panama Republic – the thriving little gem of Central America and the gateway to Latin America – visit with us!

Best wishes,
Juliette M. Passer & the NY - Panama Team

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).

Thursday, December 1, 2011

Panama’s local economic activity grows 9.13%

The monthly index of economic activity (IMAE) of Panama grew by 9.13% in the first nine months of the year. Most sectors of the economy performed better than last year.

Construction continues to be driven by public investments in infrastructure.
Transportation, storage and communications, trade, hotels and restaurants, mining and quarrying, real estate, financial services, personal and social community services, electricity and water, agriculture and manufacturing are other growing sectors.

Interestingly, report stated that the sector with the worse performance from previous years is still the fishing sector.
The government estimates that Panama economy will close the year with 9% growth.