Friday, April 28, 2017

Panama National Ballet Celebrates Dance Day

Panama National Ballet Celebrates Dance Day. 

Each year, on April 29, International Dance Day has been celebrated since 1981 by UNESCO to commemorate the birth of Jean-Georges Noverre, innovator and student of the art of dance, master and creator of modern ballet.

In the framework of these celebrations, the National Institute of Culture – INAC and the National Ballet of Panama will carry out a series of presentations in different venues of the city, between Monday, April 17 and Thursday, May 4.

The activities will begin on Monday, April 17, with an exhibition of costumes and photographs of the National Ballet of Panama at the Juan Manuel Cedeño Gallery of INAC, located in Plaza de Francia. The exhibition will be open to the public from 8 a.m. to 4 p.m. until Friday, April 28.

On Saturday, April 26 at 8 p.m. the dancers of the National Ballet will perform using the “Convento de la Concepción”, part of the Complex of Panama Viejo, as a stage. The audience will enjoy a special gala of dancing of the highest level.

Later, on Saturday, April 29, at 5 p.m., International Dance Day will be celebrated in the Plaza del Sol, located inside the Multiplaza Pacific Mall, with an exclusive presentation of the National Ballet.
On Sunday April 30, at 3 p.m. a “Flashmob” (surprise dance) will be held in the Central Plaza of the Metromall Shopping Center. To conclude the live performances of the National Ballet, on Thursday, May 4 there will be a performance at the Auditorium of the Panama Technological University – UTP at 8 p.m.

In addition to these activities, from Tuesday, 18 to Friday, April 21, a Dance Film Cycle will be organized by INAC and the Experimental University Film Group – GECU, with films every day at 7 p.m., projected at The GECU.

By The Visitor Panama

This and all activities organized by INAC are totally free. For more information call 501-4150 or visit

Thursday, April 20, 2017

World Bank estimates Panama to grow 5.4% in 2017

 World Bank estimates Panama to grow 5.4% in 2017

The organization predicts that the Gross Domestic Product of the isthmus will be the one that will grow the most this year in Latin America and the Caribbean

The economy of Panama will grow 5.4% this year 2017, according to the World Bank in its report 'Contra viento y marea: Fiscal policy in Latin America and the Caribbean from a historical perspective'.

The study reveals yesterday that Panama will lead economic growth in Latin America and the Caribbean, followed by the Dominican Republic with 4.9% and Nicaragua with 4.5%.

The Bank's projection, released in an Internet conference, is four percentage points lower than that projected by the Ministry of Economy and Finance (MEF), which this year expects the country's Gross Domestic Product (GDP) to reach 5.8% .

According to the MEF, Panama's growth will be based on the dynamism of the construction, mining and quarrying, financial intermediation and electricity, gas and water supply sectors.

The calculation of the MEF coincides with that given by the International Monetary Fund (IMF).
For its part, for this year the Economic Commission for Latin America and the Caribbean (ECLAC) projects that the Panamanian economy will have a rebound in the order of 5.9%.

Raúl Moreira, director of Economic and Social Analysis at MEF, explained to the media that the growth estimate for the Panamanian economy will continue to exceed the average in Latin America.


The estimates given yesterday by the World Bank are based on Consensus Forecasts calculations, which are expected to increase GDP by 1.5% this year and 2.5% by 2018, ending six Years of economic slowdown, including a recession in the last two years.

In the online press conference, the Bank argues that, if materialized, the expected recovery in Brazil and Argentina will largely explain the return to growth in the region. Mexico is expected to grow about 1.4%, while Central America and the Caribbean will maintain a steady growth rate of around 3.8%.

Carlos Végh, the World Bank's chief economist for Latin America and the Caribbean, said that Latin America and the Caribbean have traditionally been pro-cyclical, either because of political pressure to raise spending during the boom or because of lack of access To international capitals in difficult times'.

"As a result, they often fell into a procyclical fiscal trap, which led to more government debt and fiscal deficits, as well as lower credit ratings, leaving them few options to reverse the situation," the Bank representative said.

In response to the global financial crisis of 2008, the number of Latin American countries with countercyclical fiscal policies increased from 10 to 45%. Countries such as Chile, Colombia, Costa Rica, El Salvador, Guatemala, Mexico, Paraguay and Peru began to increase public spending or to lower taxes in an attempt to stimulate the economy. Although these measures resulted in fiscal deficits, they were the result of a concerted effort to minimize the slowdown.

On the other hand, those countries that continued their pro-cyclical policies should now further consolidate their fiscal accounts if they are to minimize the risk of deterioration in their credit rating and an increase in funding expenditure, according to the World Bank report.

From La Estrella