Logistics, banking, tourism and education are some of the sectors in Panama that need to modernize their computer systems, which generates business opportunities for developers of technological solutions. According to a study prepared by the Foreign Trade Promoter (Procomer), Panama’s ICT market exceeds $1.5 billion per year as a contribution to the Gross Domestic Product […]
pril 16, 2020 The IMF approved Panama’s request for emergency financial assistance under the Rapid Financing Instrument (RFI) of about US$515 million to meet the urgent balance of payment needs stemming from the outbreak of the COVID-19 pandemic. The pandemic has significantly weakened Panama’s macroeconomic outlook for 2020 and opened a balance of payments gap […]
Once the economy begins to return to normal, as isolation and mobility restrictions are relaxed, household consumption patterns will have changed significantly. Using a demand/income sensitivity model developed by the Trade Intelligence Unit of CentralAmericaData, it is possible to project the variations in Panamanian household demand for different goods and services as the most critical […]
New health and hygiene protocols in the establishments and the commitment to attract national tourists in an environment where short trips will be preferred, are some of the trends predicted in the new “normality” that will come after the quarantine period. Given the quarantines decreed by most governments worldwide, it is anticipated that the habits […]
Greetings from my self-imposed quarantine (although I am feeling fine) after returning from Panama, home to the Panama Canal, the most important waterway in the world. The Isthmus of Panama divides North and South America, the crossroads of the world. Its name means “rich land of butterflies, trees, and fish.” But in this humid climate, […]
A new Panama City, Panama, hospital will solely treat COVID-19 patients. President Laurentino Cortizo on Thursday inaugurated the $6 million Panama Solidario hospital, which has 100 intensive care beds and a camera system to allow doctors and nurses to monitor patients while minimizing exposure. It is unclear when the facility will begin accepting patients. Cortizo […]
Panama will stay the course and maintain the quarantine program in the fight against COVID-19 said President Laurentino Cortizo on Tuesday, April 14 the day that the country was identified as one of 14 in the world on a path to stabilize the killer virus. He said that more tests will be acquired to detect […]
The Moody’s Investors Service agency on Wednesday, April 15 ratified Panama’s risk rating at Baa1 with a stable outlook. Moody’s estimates that the coronavirus pandemic will impact the Panamanian economy in 2020 with an estimated 1% contraction in gross domestic product (GDP). Both the International Monetary Fund and the World Bank calculate that the contraction […]
During the state of health emergency in the country, taxpayers who cannot use tax equipment and billing systems because their shops or offices are closed will be exempt from using these tools. Following the spread of covid-19 the General Directorate of Revenue (DGI) explained that businesses may stop using fiscal equipment and invoicing systems, however, […]
The Panama Canal is closely monitoring the evolving COVID-19 outbreak and has adopted a series of measures to protect its personnel and prevent further spread of the virus, it said in a statement Wednesday. Since January, ships arriving at the waterway have been required to report if they have visited countries with confirmed cases prior […]