Gap widens in Panama between the “Haves” and “Have Nots”
At the end of the 80s, the economist Williams Hughes presented, together with the sociologist Iván Quintero, the book “Who are the owners of Panama?”, an x-ray of the time of how economic and political power was distributed in the countryAfter 36 years of the first edition of that study, …
Panama setting sights high for 2023—expecting 6.5% growth in Economy. Maybe for the 1%
The Cciap provided recommendations for economic recovery The Chamber of Commerce, Industries and Agriculture of Panama (Cciap) assures that despite the low economic prospects for Latin America, the country maintains a projection of national economic growth for 2023 of 6.5%. “We hope that this number has a multiplier effect, benefits …
Panama trying to recover construction to pre-COVID levels.
Historically, the construction sector is one of the main engines of economic growth in Panama. But during the covid-19 pandemic it was one of the most affected, falling by up to 50% (2020), and to date it has not achieved the growth levels it had before (pre-pandemic). The construction sector will …
Keeping an eye on Panama inflation.
Until October 2022, inflation in Panama accumulates a growth of 3.1%, compared to the same period in 2021. Only in October it reflected a year-on-year variation of 1.7%, according to the Consumer Price Index (CPI), of the Institute National Statistics and Census (Inec) published by the General Accounting Office of …
PANAMA job market is reaching point of tipping over.
“I have been out of work for four months. I’m looking for anything. The situation is very difficult!” exclaimed Jackeline Aguilar almost bursting into tears, as sweat ran down her pink cheeks due to the sweltering sun. The almost 40-year-old woman is among the more than 30,000 attendees who came from …
Winds of change in the East as Singapore passes China as Financial hub.
https://www-laestrella-com-pa.translate.goog/economia/220925/singapur-desbanca-hong-kong-principal?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc Singapore has overtaken Hong Kong as the main financial center in Asia, and ranks third in the world, according to the latest report from the Global Financial Centers Index, one of the reference sources for classifications in this sector, which places New York and London in the top positions. …
Panama GDP continues to show strength,,,,,,,,,this just makes me think of how much is under table.
http://elsiglo.com.pa/economia/crecio-98-segundo-trimestre-2022/24209524 Economic activities continue their recovery process after a prolonged period of sanitary restriction measures The performance of the Panamanian economy, in the second quarter of 2022, measured through the Quarterly Gross Domestic Product (PIBT), presented an increase of 9.8%, compared to the similar period of the previous year. GDPT registered …
In a world of financial chaos, PANAMA showing double digit GDP strength.
The performance of the Panamanian economy, in the second quarter of 2022, measured through the Quarterly Gross Domestic Product (PIBT), presented an increase of 9.8%, compared to the similar period of the previous year. GDPT registered an amount of $9,925.7 million for the estimated period, which corresponded to an …
USA: Please opine on state of affairs and poverty in the United States.
https://www-laestrella-com-pa.translate.goog/internacional/mundo/220830/mujeres-ninas-vulnerables-guerra-bandas-haiti?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc Violence and lack of sanitation grip hundreds of women and girls who have been living in a camp installed since July 8 in a public square in the Haitian capital, where they settled after fleeing the war between gangs in Cité-Soleil, an area Metropolitan Port- au-Prince. They are women …
Pharmacies claim discount will undoubtedly lead to increased unemployment.
https://elsiglo-com-pa.translate.goog/panama/descuento-30-puede-generar-desempleo/24208296?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc&_x_tr_sch=http Pharmacy owners ask the Court to declare the regulation null The 30% discount on medicines, which came into effect on August 15, continues to cause hives. Owners of the pharmacies warn of millionaire losses in their premises, which can generate the unemployment of 4,500 workers. Members of the National Union …
PANAMA aiming to change what is was best known for in 70’s.
https://www-laestrella-com-pa.translate.goog/nacional/220819/panama-fortalece-sistema-prevencion-blanqueo?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc Panama updated the guidelines and guidelines for professionals who carry out activities subject to supervision, in order to raise the level of compliance with a risk-based approach, strengthen the money laundering prevention system, in order to favor the competitiveness of the country. This was established in agreement No. JD-02-2022, …
Cocoa and Coffee take center stage for GDP
https://www-laestrella-com-pa.translate.goog/economia/220810/implementan-estrategias-fortalecer-produccion-cacao-cafe-panameno?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc Among the next actions to strengthen the Panamanian coffee and cocoa items is the creation of a national program. The implementation of strategies to strengthen the Panamanian coffee and cocoa sectors, as an alternative to improve the social and economic conditions of the country, was analyzed during a meeting …
Years after Mossack/Fonseca and “Panama Papers”, our country still WASHING a great deal.
https://www.laestrella.com.pa/nacional/220524/panama-obtiene-alta-puntuacion-opacidad Panama is responsible for 1.4% of financial secrecy risks worldwide. This is established by the Index of Financial Secrecy (IFS, for its acronym in English), which is prepared by the Tax Justice Network, an international network for tax justice based in London, which reveals the extent to which countries can …
Putin’s senseless war affecting GLOBAL supply chain. In particular, PANAMA.
https://www.laestrella.com.pa/economia/220519/guerra-ucrania-frena-recuperacion-economica The war in Ukraine is slowing down the fragile economic recovery that the world had begun after the covid-19 crisis, the UN said on Wednesday, lowering its global growth forecast for this year from 4% to 3.1% and warned that the deterioration may end up being even greater. …
Amazing!! I agree with Nito on Crypto stance.
There has not been much that I have agreed with under the leadership of Cortizo. Yet I find it refreshing he is taking a measured and intelligent approach in these uneasy economic times to gather more information on this “made up” money of Cryptocurrency. https://www.laestrella.com.pa/economia/220519/cortizo-negara-firmar-proyecto-ley-regula-criptomoneda During his participation in the …
How is Ukraine war affecting Panama supply chain?
https://www.laestrella.com.pa/economia/220315/220316-productos-panama-mas-importa-ucrania-verse-afectados-guerra Although in the trade balance the volume of trade between Ukraine and Panama is not as high compared to other countries in the world, there are certain productive sectors that could be affected by the Russian invasion and by the increase in fuel costs that is being generated in …
EX-PAT ALERT: Beware Crypto Currency offerings in Panama.
I just saw a very riveting documentary on NETFLIX entitled “Trust No One- The Hunt for the Crypto King” https://www.netflix.com/pa-en/title/81349029 I have ALWAYS been of the opinion that “Crypto” is nothing more than some dystopian millenial created bullshit!! In like “Hey, we can’t go out and make REAL money, so why …
Great article about the “Impunity” I have mentioned occurring in Panama. Global “Black List”
While the government is preparing for a face-to-face meeting with the Gafi in May and September, the World Compliance Association, a chapter in Panama, says that the first problem that Panama has to tackle is ‘to see the real problems as a country when it comes to to comply with …
As Russia sanctions tighten, Panama sees rise at the pump.
https://elsiglo-com-pa.translate.goog/panama/precio-gasolina-diesel-aumentan-desde-este-viernes/24195767?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc&_x_tr_sch=http The price of gasoline and diesel suffer another increase. This Friday, at 6:00 am the new maximum prices come into effect Increase. The price of gasoline and diesel suffer another increase. This Friday, at 6:00 am The new maximum sale prices of liquid fuel in Panama begin to take effect. In the provinces of …
Panamanian “Staycations” are boon to economy during Carnival.
https://elsiglo-com-pa.translate.goog/economia/200-millones-genero-turismo-interno-durante-dias-asueto-carnavales/24195549?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc&_x_tr_sch=http The average cost per person between food, transportation and recreational activities is around 200 balboas An economic impact of approximately 234 million balboas in internal tourism was generated during the holidays due to the celebration of the Carnival party, according to the Statistics Department of the Panama Tourism Authority …
Bean counters BULLISH on Panama recovery for 2022
https://www.laestrella.com.pa/economia/220221/panama-mantiene-proyecciones-estables-2022 Despite the shocks caused by Covid-19, the Panamanian economy remains afloat and the figures remain stable with an upward projection at the end of 2022. This means that there will be a recovery of important items in the economy, according to Torino Economics, the subsidiary of Torino Capital Group …
Interesting look into Panama bay growth.
A visible retrospective of Panamanian growth over the years. https://www.laestrella.com.pa/nacional/220219/transformacion-frente-costero-ciudad-panama The vertiginous process of transformation of the sea front of Panama City has been characterized by legal controversies, regarding the legality or not of transferring as private property, the filling of areas such as the seabed, mangroves and beaches. …
Retirees suffering through rough 2022 so far with market swings.
For the Ex-Pats that are financially dependent on their 401Ks and Retirement accounts, the foreseeable future will be a test of patience and resolve. The tensions on the border of the Ukraine in lockstep with the anticipation of a March Interest rate hike have the markets struggling to adjust. Every …
David sees the opening of first major US Hotel chain as tourism seeks 2021 rebound.
https://www.prensa.com/resena-digital/hampton-by-hilton-abre-sus-puertas-en-david-el-primer-hotel-de-bandera-internacional-de-la-ciudad/ The opening of the hotel responds to the economic growth of Chiriquí and to the new demands of the market. David is the main commercial center of the province and from there commercial activities related to agricultural and livestock production are developed, the main lines on which the Chirican economy …
SUNTRACS unhapy with progress of resumption of projects.
https://www.laestrella.com.pa/nacional/201116/suntracs-reporta-reincorporacion-13-mil-obreros-puestos The general secretary of the Single Union of Construction and Similar Workers (Suntracs), Saúl Méndez affirmed that as of Monday, November 16, 14 thousand workers have been reinstated to their jobs. This he said is important because the figures in March of suspended contracts were 23 thousand workers, that …
Panama chooses Astra-Zeneca as multiple vaccines on verge of approval.
The Government of Panama approved this Wednesday in the Cabinet Council, Cabinet Resolution 93-20, which authorizes the Ministry of Health (Minsa), to proceed with the purchase of one million 92 thousand doses of the vaccine to prevent covid-19, from the British pharmaceutical AstraZeneca UK Limited, in association with Oxford University, …
Panama City crawling back to life as restaurants are up and operating.
With dividers and panels up…..dining sees an uptick in the city. https://www.prensa.com/impresa/economia/80-de-los-restaurantes-estan-operando-ventas-suben-10/ Four weeks after the restart of operations after being closed for more than 7 months, the Association of Restaurants and Related Products of Panama, reports that 80% of the stores are operating. Domingo de Obaldia, president of the …
With country open, new cases still will occur.
https://www.laestrella.com.pa/nacional/201004/panama-reporta-633-casos-nuevos-covid-19-9-nuevas-defunciones Panama reported 633 new cases of covid-19, for a cumulative total of 115,286. To date, 5,249 tests were applied, for a positivity percentage of 12.1% and 9 new deaths have been registered, totaling 2,423 accumulated and a fatality of 2.1%. Active cases total 21,054. In home isolation, 20,211 people are …
Something to look at for Ex-Pat owners of income properties.
https://www.prensa.com/impresa/panorama/reforma-a-la-ley-sobre-arrendamientos-se-mantiene-en-consulta/ The Ministry of Housing and Land Management (Miviot) consults with various sectors to make changes to Law 93 of October 4, 1973, which dictates measures on leases in the country. The draft of a change proposal, which the Miviot sent to some unions on September 8, has raised criticism among …
What is “Bojal’a” and what does it mean to Chiriqui?
ANSWER: Delicacy fish to be farmed responsibly with US corporation. https://www.martesfinanciero.com/portada/el-golfo-de-chiriqui-atrae-millonaria-inversion-en-acuicultura/ The US-owned company Forever Oceans Panama will plant bojalá in the Gulf of Chiriquí and its first production will be exported to the United States in 2021. In October 2020, a US investment group will begin planting bojalá on …