Panama remains the richest country in Latin America, according to a Latinvex ranking based on new data from the International Monetary Fund (IMF).

Meanwhile, Venezuela and Argentinaare declining on the ranking, which looks at gross domestic product based on purchasing-power-parity (PPP) per capita GDP to measure wealth.

While GDP per capita statistics remain controversial, the PPP measure is considered the most accurate way to track real wealth, although most of the countries in Latin America that rank high in PPP GDP per capita terms also have considerable inequality and poverty.