Panama’s economy forged ahead during global recession
(newsroompanama.com) In the midst of the global economic crisis in 2008-9 Panama's economy maintained a steady rate of growth during according to the World Bank.
A report from the bank found that the country’s economy grew an average of 6.5 percent during the two years. While this was a 3.8 percent drop from the 10.3 percent growth the country experienced in 2006-7 Panama’s economy outstripped that of many other countries in the region.
The report highlights Panama Canal expansion as one one of the few exceptions to banks shying away from lending. Panama raised $2 billion from International banks. The total cost of the project is $5.2 billion. Much of the financing will come from increased fees for canal traffic.
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Original Source: Newsroompanama.com
Date Retrieved: November 19, 2010.
