Real Estate News

Panama will grow 3%: IMF

Source: Prensa.com, Apr 23, 2009

The International Monetary Fund (IMF) adopted its growth forecast for Panama this year in 3%, a rate higher than any Central American countries: Honduras (1.5%), Guatemala (1%), Costa Rica and Nicaragua (0.5%) and El Salvador (0%)

Central America will grow, on average, only 1.1% in 2009 due to the effects of the global economic crisis that will affect remittances.





Panama bets on business mobility

Source: Capital.com.pa, Apr 21, 2009

Panama has the infrastructure and technology of business mobility (uptake and transmission of data in real time) most advanced and complex not only in Latin America, which is why it has become one of the main bases of operations for Motorola in the continent.

This was stated by the regional manager for Central America and Caribbean channels of the company, Alfred Navarro, who spoke with Capital on the important role that Panama is playing for Motorola operations in the region, especially since even in the midst of the international crisis, the country continues to grow.





Successful First Cruise Ship Season in Colón

Source: Summa News, Apr 21, 2009

Since December 2008, 52 thousand cruise ship passengers have boarded at the terminal in Colón Port 2000; 14 thousand Panamanians and the rest mostly Colombians, Mexicans, Costa Ricans and Venezuelans.

The general manager of Colón Port 2000, Agusto Terracina, expressed his satisfaction with this first season, which ended "without any unfortunate incidents reported, which leaves a very good perception of Panama as a port for boarding cruise ships."





Fitch Ratings confirms Panama's BBB+ rating

Source: The Panama Post, Apr 20, 2009

International agency Fitch Ratings recently confirmed Panama's BBB+ ranking with a positive perspective and said that the country may face with greater possibilities than its neighbors the effects of the global economic crisis.

Although it is expected that the economic growth and the fiscal balance will deteriorate in 2009, Panama's macro-economic and structural strengths will continue to set it apart from its BB rankings, according to Fitch.





Panama and Canada will close FTA on ministerial meeting

Source: Prensa.com, Apr 16, 2009

The negotiating teams from Canada and Panama met in Panama to arrange a ministerial meeting to close the negotiations of the Free Trade Agreement (FTA).

Leroy Sheffer, head of trade negotiations, said that the stable and regulated financial sector in Canada represents an opportunity for the country.





ACP builds track and turntable system to increase efficiency along the Panama Canal

Source: MarketWatch.com, Apr 15, 2009

In another clear demonstration of its innovative operations, the Panama Canal Authority (ACP) updated its track and turntable system located in the Canal's Gatun Locks. The system continuously transports locomotives through the locks to assist transiting vessels

"The new track and turntable system significantly enhances the efficiency and safety of the Canal," said ACP Executive Vice President of Operations Manuel Benitez.





Panama Economy Holding Up

Source: Latin Business Chronicle, Apr 13, 2009

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.





Panama gains popularity for medical tourism

Source: The Panama Post, Apr 13, 2009

Medical tourism has grown in Panama due to the services offered by the Punta Pacifica Hospital, Clinica Hospital San Fernando and the Patilla Hospital.

International patients in Panama have discovered the ability to receive world-class medical care at affordable prices.






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