Panama Economy Among Fastest Growing
April 15, 2009
by Latin Bus Chronicle
In an article published by Monday by Latin Business Chronicle it states how Panama's economy is among the fastest growing in latin america. Read an excerpt of the article below or access it at:
Latin Business Chronicle
Panama Economy Holding Up
Panama’s economy will be among the fastest-growing in Latin America this year despite the global crisis.
Panama
will be one of the fastest-growing economies in Latin America this year
thanks in large part to the $5.2 billion expansion of the Panama Canal, the solid fundamentals of its large international banking sector and its dollarized economy, experts say.
"Panama will do well because of the large investment projects that are under way, including a massive expansion of the Panama Canal,"
says Standard & Poor's credit analyst Joydeep Mukherji. "The Canal
expansion, along with other investment projects planned by the
government in other types of infrastructure, should sustain growth."
That prognosis is impressive in light of the fact that Panama is the country in Latin America that depends most on global trade, which is expected to see steep falls this year.
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