Panama Will Lead Latin America in Economic Growth from 2011 – 2015

Panama Will Lead Latin America in Economic Growth from 2011 – 2015 (IMF)

Saturday, October 09 2010 @ 09:58 AM EDT
Contributed by: Don Winner
Views: 47
Panama is the country that will lead Latin America and the Caribbean in the period 2011 – 2015, according to the International Monetary Fund (IMF) at its annual meeting held in the United States. The IMF report says that while Paraguay, Uruguay, Peru, Argentina and Brazil will keep their economies stable, Panama, however, will continue to grow as 6.2 in 2010, will increase to 6.7 in 2011 and will remain so until 2015. They also noted that Panama is the sixth Latin American country in economic growth this year and the most robust of Central America, according to a statement from the Ministry of Economy and Finance. The IMF said only five countries exceed Panama with greater growth, 9.0% in Paraguay, Uruguay with 8.5%, Peru registered 8.3%, and 7.5% for Argentina, like Brazil. In terms of inflation, the new IMF forecasts indicate an increase from 3.3% to 4.1% in 2010, but projections for 2011 show an expected cut of 2.9% to 2.7%. (Panama America)
Editor’s Comment: In 2007 Panama’s GDP Per Capita (PPP Adjusted) was $11,100 and in just two years in 2009 that number increased by 9% to $12.100. GDP per capita (PPP) is the best number to use to compare Latin American economies one against the other because it eliminates most of the extraneous variables and accounts for differences like the size of the country’s economy, the size of the population, monetary exchange rate issues, and things like that. Panama continues to steadily “creep up” this list. Eventually, by this measure, Panamanians will be the richest people in Latin America. No kidding. For example countries like Venezuela, Mexico and Chile are currently ahead of Panama in terms of GDP per capita (PPP). However Panama’s economy is growing faster than these countries, so their lead is eroding and Panama will be moving up. The macro economic news for Panama is generally all good.

Post a Response

Post a Response