Panama's Economy Continues to Grow

Panama is enjoying the strongest growth in Central America, and will lead all of Latin America through 2015, according to the International Monetary Fund (IMF). The Canal expansion plan and ambitious infrastructure investment bolster economic growth while attracting multinational corporations, real-estate developers, retirees, and savvy travelers to this emerging nation, whose diversified economy is driven by transport, banking, communication technology, and tourism. Investors worldwide are no longer just passing through Panama’s infamous Canal, but are choosing Panama as a financial haven.

In January 2015 the rating agency Moody's confirmed the rating of the Republic of Panama at Baa2 with a stable outlook, as reported by the Ministry of Economy and Finance of Panama, therefore maintaining investment grade obtained in 2010. According to the statement the decision was based on continued economic growth of the country, close to 8.2% (average) per annum over the last 10 years and the government improved ratio of debt to Gross Domestic Product (GDP). "The Baa2 rating reflects the continued economic growth and government improved its debt position, supported by the dollarization reassured macroeconomic stability and the main role of the Panama Canal, world trade," said Moody's.

Panama now has 20 years of unbroken electoral democracy and the Panama Canal, entirely in Panamanian hands since 2000, has been hugely successful. All of this bodes well for a country that has been on the rise for years, and all signs point to Panama continuing to thrive.