Country Profile
From The Report: Panama 2014
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Panama’s geostrategic location has historically granted it an influence on a regional and global level that often surpasses its small stature. Since the turn of the millennium it has been diversifying its contribution to regional and global business through the expansion of its status as an international finance, transportation and business centre. Today, with the Panamanian government spending on a multitude of infrastructure-related projects of all sizes – most notably the expansion of the canal – driving the nation’s pace-setting economic expansion, it appears to be a historic moment for the country. Yet, several obstacles hamper Panama’s seemingly clear path to development, including a struggling education system, the existence of stark inequalities in rural areas and a political system that belies its economic prowess.

This chapter features interviews with President Ricardo Alberto Martinelli Berrocal; Ed Fast, Canadian Minister of International Trade; and Enrique García Rodríguez, Executive President, Development Bank of Latin America.

Articles from this Chapter

Overview

Centre stage: Two decades of peaceful democratic transfers of power have allowed for further economic development
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For millions of years the Isthmus of Panama has been the bridge adjoining the Americas, shaping the development of life on the continent. Its importance has been magnified in recent centuries, as it is also the shortest land route for maritime goods crossing from the Atlantic to the Pacific and vice-versa. As a result, the isthmus has played a vital role in dispersing native cultures and tribes in early history, aiding the flow of natural resources in colonial times and drastically altering global…

Interview

Staying on top: OBG talks to President Ricardo Alberto Martinelli Berrocal
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Interview:President Ricardo Alberto Martinelli Berrocal With public investment in infrastructure at almost 9% of GDP, how sustainable is this going forward? RICARDO ALBERTO MARTINELLI BERROCAL: My government has made a bigger investment in its five years of administration than any of the four previous presidential leaderships. After the death of General Omar Torrijos, there was a marked decrease in the amount of public investment. We can say that we have invested more than all the governments…

Analysis

An open framework: Weighing the economic impact of an open foreign policy and alluring business hub
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The country’s geostrategic location has historically granted it an influence on a regional and global level that often surpasses its small stature. Since the turn of the millennium the country has been diversifying its contribution to regional and global business through the expansion of its status as an international finance, transportation and business centre. The current administration has prioritised encouraging regional integration, commerce and trade, while pursuing increased cooperation…

Interview

A valued partner: OBG talks to Ed Fast, Canadian Minister of International Trade
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Interview:Ed Fast What impact will the Canada-Panama Free Trade Agreement (FTA) have on Panama’s mining sector? ED FAST: Canadian companies are major players in the extractive sector, with mining interests in 8000-plus sites in over 100 countries. The updated investment provisions ensure that Canadian investors will be treated as well as their Panamanian counterparts in the creation, acquisition and running of operations in Panama. Canadian firms have the technology, experience and willingness…

Interview

At a turning point: OBG talks to Enrique García Rodríguez, Executive President, Development Bank of Latin America (Corporación Andina de Fomento, CAF)
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Interview:Enrique García Rodríguez What can Latin America learn about economic integration from the history of the EU? ENRIQUE GARCÍA RODRIGUEZ: European integration offers important lessons for Latin America. Europe has made a great political effort over the years. This continuity is one of the factors in the success of the EU’s integration, compared with Latin America whose own efforts since the late 1950s have not been fully sustained. The EU managed to establish strong supranational…