Line 3: Award Confirmed in Panama


News from Panama

The award of the contract to the HPH Joint Venture Consortium became final, after several claims submitted in the tender process for the design and construction of Metro Line 3 were resolved. Héctor Ortega, director of Metro de Panamá, S.A., announced that on February 4 the resolution confirming the award to the HPH Joint Venture […]

February 9, 2020

Panama’s Monetary System


News from Panama

Patrick A. Heller writes of his trip to Panama. Last week, I returned from a brief vacation in Panama.  I did not have to change my U.S. dollars for local currency since the U.S. dollar is the legal tender currency there. Since Panama (with the backing of the U.S. government—almost certainly prompted by President Theodore […]

February 9, 2020

Home Sales: Optimism in Panama


News from Panama

After the Preferential Interest Act was modified and the maximum limit for applying preferential interest to the purchase of homes was raised to $180,000, an 11% decrease in the inventory of available homes was reported. In September 2019, a bill was approved which establishes that for the purchase of homes for a value of between […]

February 9, 2020