The Future

Panama has one of the best economic futures in Latin America. Panama was given the highest projection for economic growth of any Latin American country for 2007 by the IMF. Like Chile, Panama has the potential to raise its people's standard of living above developing nation status in the near future. Recently, Felipe Gonzales the ex-Prime Minister of Spain said that Panama is one of a handful of nations which has the potential to rise to first-world status within 5 years, whereas other third world countries will take a generation or more. Dozens of businesses and institutions already showcase what Panamanians are capable of. Social willingness and ability to carry out the reforms needed to make Panama competitive internationally adds value to its priceless geographical position. The new government of President Martin Torrijos which began in September 2004 thus far has shown a will to end corruption, reform the judicial system, decentralize and create foreign investment friendly policies- if this continues Panama will have a bright future. Panama's wealth distribution curve is one of the most skewed in the world. One third of the population lives in poverty. Sustained determination and creative planning will continue to be needed to create the conditions so that all Panamanians can participate in the country's growing prosperity.