Recorded the highest level of FDI (Foreign Direct Investment) in Central America, beating Costa Rica
The first news of the year from international agencies of economy developments leave Panama with high expectations. Not only the signs tell about ourstanding economy growth rates in the region and around the world, but also select it for a major incease of international investments and financial system.
The results of the fist evaluation from Financial Sector Assessment Program (FSAP) which was realized in Septemeber 2011 by International Monetary Fund (IMF) confirms that Panama financial system is solid and could remain adequately capitalized, even during challenging external conditions.
The IMF Executive Board stressed that macroeconomic perspective for Panama is favorable with risks broadly balanced. Praising the resistance of the external turbulence Panama, on the basis of sound economic fundamentals and prudent policies.
“Directors welcomed the resilience of the financial system in Panama, while supporting the ongoing efforts being made to strengthen crisis prevention and the institutional and regulatory framework in the sector "
In terms of recommendations, they urged the agency to continue the process of updating financial sector supervision: the consolidated supervision, the risk-based supervision and monitoring of non-bank segments. At the same time acknowledging the efforts already made in this area.
In terms of economic growth Panama stands out as one of the countries with higher levels of global growth according to the World Bank.
Other good news was announced by the Economic Commission for Latin America (ECLA) in 2011, Central America received foreign direct investment $ 8,246 million, representing an increase of 36% over the previous year, which is slightly greater than the amount in 2008, before the crisis.
But the best news was Panama uptake of this investment leads, followed by Costa Rica. Together they receive 59% of total foreign direct investment in Central America and Panama stake in these is 34%.
A new report by the World Bank and International Finance Corporation (IFC) shows that economies continue to adopt reforms that promote transparency and access to information, improving the capacity of local firms to do business. In this list called "Doing Business" Panama improved, going from 63 to 61. Ahead of Panama are Chile in the 39th place, Peru 41, Colombia 42, Puerto Rico in 43d and Mexico in 53d.