According to World Bank estimates, the GDP drop in Panama last year reached an eye-watering 17.9-percent, the country’s worst yearly result on record, making it the worst performer in Central America.
Only Venezuela fared worse last year, as its GDP fell 25 percent, amid a severe socio-economic collapse that only worsened during the pandemic.
Panama’s economy was disrupted by a slowdown in world trade between March and June 2020, which reduced traffic in the Panama Canal, a key source of revenue for the nation and accounting for 10 percent of its GDP.
For this year, the World Bank believes the country will grow 9.9 percent, which is set to be the highest growth rate in Latin America this year.
Overall, the worldwide economic outlook has improved according to the Organization for Economic Co-operation and…
“This is f***ing corruption, it has to change,” protested an irate John Textor, owner of…
Eduardo Leite, governor of the southern Brazilian state of Rio Grande do Sul, on Wednesday…
Moody’s is the latest rating agency to improve its assessment of Brazil, bumping up the…
Other finalists include the Harvard Business Review, Fortune, Condé Nast, and the NFL
The relationship between farmers and the Luiz Inácio Lula da Silva administration is by no…