The Minister of Economy and Finance, Felipe Chapman, highlighted the relevance of Panama as a logistics center during a meeting with the Development Bank of Latin America and the Caribbean (CAF). Chapman emphasized that these meetings are beneficial for the country, since they allow to outline a roadmap focused on financing and investment for the private sector.<\/p>\n\n\n\n
“Institutions such as CAF can provide us with expert advice on strategic issues for the country. They can analyze our Strategic Government Plan and review the reports of rating agencies and investment banks that, in addition to pointing out weaknesses, highlight the opportunities in key sectors such as logistics, nearshoring<\/em>, tourism and other relevant activities,” said Minister Chapman.<\/p>\n\n\n\n On the current situation of world trade, Chapman commented that, unlike previous centuries, the world is moving towards greater globalization and interconnectivity. However, he warned that some countries have not managed to adapt in time. “Many of us made the mistake of not being prepared and not taking the right measures,” he said. In addition, he stressed that uncertainty and global challenges require planned strategies based on critical thinking and anticipation.<\/p>\n\n\n\n Regarding the fiscal situation in Panama, Chapman revealed that the country faced significant economic challenges last year, including a considerable fiscal deficit and a drop in income below budget. “We find ourselves in a very difficult fiscal situation, to use a diplomatic language,” he said. However, he stressed that the measures implemented allowed a containment of public spending of approximately 1.8 billion dollars, in the context of an economy with a GDP of less than 90 billion dollars.<\/p>\n\n\n\n Finally, Chapman stressed the importance of strategic planning in times of uncertainty. “We recently published the Government Strategic Plan, which diagnoses the current situation and outlines a serious roadmap to achieve our goals in this very complex environment,” he concluded.<\/p>\n\n\n\n The meeting also had the participation of Sergio D\u00edaz-Granados, executive president of CAF; Christian Asinelli, corporate vice president of Strategic Programming; and Gabriel Felpeto, vice president of Finance of CAF. This meeting reflects the joint commitment to promote projects and strategies that strengthen the economic development of Panama and the region.<\/p>\n\n\n\n