Search results
Results from the WOW.Com Content Network
Panama has a substantial financial services sector and no central bank to act as a lender of last resort to rescue banks that get in trouble. As a result, Panamanian banks are very conservatively run, with an average capital adequacy ratio of 15.6% in 2012, nearly double the legal minimum. [25]
A farm in Panama. Major agricultural products in Panama include bananas and other fruit, corn, sugar, rice, coffee, shrimp, timber, vegetables, and livestock. [2] As of 1996, the important agricultural product exports included bananas ($96.4 million), shrimp ($29.2 million), sugar ($14.1 million), coffee ($11.3 million), and beef ($2.9 million).
In August 2020, Panama joined forces with the United States to form a joint task force to root out money laundering. [ 8 ] However, despite the work being done, much still remains to be accomplished, and the International Trade Administration notes that corruption remains the largest hurdle for businesses wanting to invest in the country.
Discover the latest breaking news in the U.S. and around the world — politics, weather, entertainment, lifestyle, finance, sports and much more.
The government initiated a modest public works program, instituted price support for major crops, and increased protection for selected agricultural and industrial products. [ 4 ] The postwar depression gave way to rapid economic expansion between 1950 and 1970, when GDP increased by an average of 6.4% a year, one of the highest sustained ...
For premium support please call: 800-290-4726 more ways to reach us
In 1903, Panama was a restive department of Colombia, with many Panamanians advocating openly for independence from a central government on the other side of the impassable Darien Gap jungle that ...
Panama is regarded as having a high-income economy. In 2019, Panama ranked 57th in the world in terms of the Human Development Index. In 2018, Panama was ranked the seventh-most competitive economy in Latin America, according to the World Economic Forum's Global Competitiveness Index. Panama was ranked 82nd in the Global Innovation Index in 2024