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Panama's Economic Stability
Panama's economy has steadily increased in recent years despite the economic crisis suffered throughout Latin American and much of the world. On March 22, 2004, the Executive Board of the International Monetary Fund (IMF) concluded its Article IV consultation with Panama. The IMF found that the economy grew a healthy 4% in real terms during the year under review, following two previous years of growth at a lower level.
Panama has also showed no signs of change in its upward progress. In its annual Report, Moody's Investor Service says, "the country's (Panama) split ratings and stable outlook reflect a manageable fiscal position."
Free Trade Agreements, such as the recent accord with Taiwan, will also help to benefit the Panamanian economy by encouraging foreign investment into the nation's financial and communications systems, the report added. In total, Panama has Bilateral Trade Agreements with over 20 countries throughout the world.
Source:
Moody's Investor Service
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