Panamainfo’s Blog

The International Monetary Fund has just released an analysis of the economic progress of each country in the region over the next 5 years. Panama comes out on top with a projected growth rate of 5% for 2010 and between 6.1% and 6.5 % until 2015.  This good news comes along with the recent good news that Panama now is now investment grade.

This analysis reflects confidence in Panama and its 5 billion dollar Panama Canal widening project and in the Martinelli government which is undertaking numerous important infrastructure projects-including two new international airports, a Panama City Metro, and a convention center. At the same time, the government is  seriously reducing corruption- the major reason that Panama and other Latin American countries have been held back in their development.  Transparency International estimates that corruption costs 30% of the GNP in Latin America.