{"id":657,"date":"2010-03-31T09:37:39","date_gmt":"2010-03-31T14:37:39","guid":{"rendered":"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=657"},"modified":"2010-03-31T09:50:06","modified_gmt":"2010-03-31T14:50:06","slug":"panama-will-cut-debt-to-35-of-gdp-minister-says","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/panama-will-cut-debt-to-35-of-gdp-minister-says\/","title":{"rendered":"Panama Will Cut Debt to 35% of GDP, Minister Says"},"content":{"rendered":"<p>March 24 (Bloomberg) &#8212; Panama will cut its public debt as a percentage of gross domestic product by 10 percentage points as the Panama Canal\u2019s expansion boosts revenue and increased foreign investment generates royalties from mining, Finance Minister\u00a0<a onmouseover=\"return escape( popwSearchNews( this ))\" href=\"http:\/\/search.bloomberg.com\/search?q=Alberto+Vallarino&amp;site=wnews&amp;client=wnews&amp;proxystylesheet=wnews&amp;output=xml_no_dtd&amp;ie=UTF-8&amp;oe=UTF-8&amp;filter=p&amp;getfields=wnnis&amp;sort=date:D:S:d1\">Alberto Vallarino<\/a>\u00a0said.<\/p>\n<p style=\"text-align: justify;\">The Central American nation plans to slash its obligations to 35 percent of GDP from 45 percent by 2014 as collections from the upgraded canal rise to $5 billion a year from about $2 billion, Vallarino said. The government also plans to sell land and is \u201clooking very carefully\u201d at granting mining concessions to enhance revenue, he said.<\/p>\n<p style=\"text-align: justify;\">\u201cWe recognize the responsibility of managing public finances,\u201d Vallarino, 59, said today at a conference in Panama City. \u201cOur country is on a very clear path to sustained growth.\u201d<\/p>\n<p style=\"text-align: justify;\">Panama\u2019s credit rating was raised yesterday to investment grade by Fitch Ratings, which cited low debt levels and a resilient economy that posted one of the fastest growth rates in Latin America last year.<\/p>\n<p style=\"text-align: justify;\">Fitch raised Panama\u2019s foreign- and local-currency debt to BBB-, the lowest investment-grade level, up from BB+. The outlook on both ratings is positive, Fitch said in a statement yesterday. The country\u2019s foreign-currency rating is in line with those of Brazil and Peru.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>March 24 (Bloomberg) &#8212; Panama will cut its public debt as a percentage of gross domestic product by<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[19,11,20,7,15,17],"class_list":["post-657","post","type-post","status-publish","format-standard","hentry","category-news-articles-panama-perpsective","tag-investments-in-panama","tag-offshore-real-estate","tag-panama-economics","tag-panama-real-estate","tag-tax-issues","tag-trusts"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Panama Will Cut Debt to 35% of GDP, Minister Says  - Blog and Newsletter<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/panama-will-cut-debt-to-35-of-gdp-minister-says\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Panama Will Cut Debt to 35% of GDP, Minister Says\" \/>\n<meta property=\"og:description\" content=\"March 24 (Bloomberg) &#8212; Panama will cut its public debt as a percentage of gross domestic product by\" \/>\n<meta property=\"og:url\" content=\"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/panama-will-cut-debt-to-35-of-gdp-minister-says\/\" \/>\n<meta property=\"og:site_name\" content=\"Blog and Newsletter\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=100088396493750\" \/>\n<meta property=\"article:published_time\" content=\"2010-03-31T14:37:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2010-03-31T14:50:06+00:00\" \/>\n<meta name=\"author\" content=\"Adrian Prozzo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Adrian Prozzo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/panamaadvisoryinternationalgroup.com\\\/blog\\\/panama-will-cut-debt-to-35-of-gdp-minister-says\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/panamaadvisoryinternationalgroup.com\\\/blog\\\/panama-will-cut-debt-to-35-of-gdp-minister-says\\\/\"},\"author\":{\"name\":\"Adrian Prozzo\",\"@id\":\"https:\\\/\\\/panamaadvisoryinternationalgroup.com\\\/blog\\\/#\\\/schema\\\/person\\\/6c118309f214f7da81db90c9905c5e69\"},\"headline\":\"Panama Will Cut Debt to 35% of GDP, Minister Says\",\"datePublished\":\"2010-03-31T14:37:39+00:00\",\"dateModified\":\"2010-03-31T14:50:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/panamaadvisoryinternationalgroup.com\\\/blog\\\/panama-will-cut-debt-to-35-of-gdp-minister-says\\\/\"},\"wordCount\":209,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/panamaadvisoryinternationalgroup.com\\\/blog\\\/#organization\"},\"keywords\":[\"investments in panama\",\"offshore real estate\",\"panama economics\",\"Panama Real Estate\",\"tax issues\",\"trusts\"],\"articleSection\":[\"News from Panama\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/panamaadvisoryinternationalgroup.com\\\/blog\\\/panama-will-cut-debt-to-35-of-gdp-minister-says\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/panamaadvisoryinternationalgroup.com\\\/blog\\\/panama-will-cut-debt-to-35-of-gdp-minister-says\\\/\",\"url\":\"https:\\\/\\\/panamaadvisoryinternationalgroup.com\\\/blog\\\/panama-will-cut-debt-to-35-of-gdp-minister-says\\\/\",\"name\":\"Panama Will Cut Debt to 35% of GDP, Minister Says - 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