Panama: Strong Economy and Safe Banks

Amid concerns about banks in the United States and Europe, Panama’s banking regulators reported in a Reuters article that ” key variables were all “robust,” including solvency, adequate capital and liquidity levels, with results showing profits rose 45% from 2021, landing ahead of pre-pandemic levels.”

READ THE REUTERS ARTICLE HERE <<<<

One of the big differences is that Panama has no central bank.

Panama can’t print money. Panama must sell a product or a service to get cash.

Panama does an excellent job of selling products and services.

President Cortizo reported on Facebook today, “We continue to work on the economic revival of the country! GDP in nominal terms reached the sum of B/. 76,522.5 million, with a growth rate of 13.5%, which corresponds to an annual increase of B/. 9,115.8 million, compared to last year. Internal activities that performed positively in this period were: manufacturing, electricity, construction, commercial, real estate and business activities.”

The Panama Canal revenue helps, but that’s only about 20% of the revenue that Panama generates.

Panama has a strong economy and a stable banking system. That’s a good reason to Retire in Panama!