The Country Opinion Survey in Panama assists the World Bank Group (WBG) in better understanding how stakeholders in Panama perceive the WBG. It provides the WBG with systematic feedback from national and local governments, multilateral/bilateral agencies, media, academia, the private sector, and...

This study analyzes the impact of research and development (R&D) investment on economic growth in Panama, an emerging economy with structural challenges in its innovation system. Using a multivariate econometric approach that included elastic net regularization and fixed-effect panel data...

Approximately sixty percent of German goods exports are transported via sea freight. The international shipping industry is dominated by firms registered in offshore centers with little transparency. Criminals feel invited to abuse these opaque constructions for laundering their illegally...

Panamá ha sido uno de los países de más rápido crecimiento en la región, con una rápida expansión económica acompañada de una importante reducción de la pobreza. Impulsada por la inversión pública y privada, así como por la acumulación de mano de obra, la economía panameña...

Global chokepoints such as the Panama Canal propagate drought shocks into supply chains, yet disruptions to shipments remain poorly investigated. We examine the impact of supply chain disruptions induced by the 2022-2023 Panama Canal drought on Asia-United States (US) trade flows. We fuse...

This research provides an up-to-date analysis of data on gender equality, disability and social inclusion (GEDSI) in Panama, tracking key markers across political, economic, social and educational spheres. Drawing on a broad range of methodologies including a literature review, data from...

Panama exhibits high income inequality largely driven by disparities between regions rather than within them. The Panama Canal corridor, including Panama City and Colón, benefits from concentrated economic activities with high labor productivity and incomes. In contrast, rural and indigenous...

Panama has a significant and diverse state-owned enterprise (SOE) sector, comprising 16 non-financial enterprises, 5 financial institutions, and the Panama Canal Authority (ACP). The ACP operates under a specific legal and budgetary framework that ensures its institutional autonomy, which has...

This Selected Issues paper aims to develop a better understanding of the state-owned enterprises (SOE) sector, its financial performance, its governance, and its relation to the budget in Panama. It also makes a comparison between the governance framework of the Panama Canal Authority (ACP) and...

The 2025 Article IV Consultation discusses that the economy is recovering from the impact of the Cobre Panamá mine closure. Gross domestic product growth is projected to increase to 4.5 percent in 2025 as the impact of the mine closure diminishes and non-mine economic sectors continue to grow....

This research provides an up-to-date analysis of data on gender equality, disability and social inclusion (GEDSI) in Panama, tracking key markers across political, economic, social and educational spheres. Drawing on a broad range of methodologies including a literature review, data from...

El presente documento identifica recomendaciones para replicar y ampliar el análisis del potencial de metano en PTAR de mediana y pequeña capacidad; Además, propone estrategias para impulsar opciones de financiamiento climático. Para ello, es fundamental considerar como criterio central la...

Money laundering and reverse money laundering, also known as terrorism financing, have emerged as critical issues in the 21st century, posing threats to security, economic stability, and the integrity of financial systems. This article explores the growing use of anonymous shell companies as a...

An IMF team found that Panama has a cash-based system of budgeting and accounting that generates good information on many aspects of public finances. There are, however, many weaknesses in the system which diverge from the sound practices included in the Fund's Fiscal Transparency Code. Panama's...

During two visits in 2023-24, the IMF mission implemented a set of recommendations made by a previous technical assistance mission in May 2022 which were aimed at improving the solvency stress model of the Superintendency of Banks, Panama (SBP). The mission also provided training on the design...

Since the 2012 FSAP, Panama has significantly strengthened its institutional framework and instruments for macroprudential policy-making. Among other reforms, to strengthen the transparency of and accountability for macroprudential policy, the Superintendency of Banks of Panama (SBP) and the...

Key institutional pillars of a financial safety net have not been established in Panama. While state-owned banks benefit from an explicit government guarantee, Panama does not possess a deposit insurance framework, lender-of-last resort (LOLR) or emergency liquidity assistance (ELA)mechanism to...

Panama has struggled to bring its anti-money laundering and combating the financing of terrorism (AML/CFT) regime in line with international standards, resulting in periods of being “grey listed” by the international standard-setter, the Financial Action Task Force (FATF). Panama’s AML/CFT...

Since the last Financial Stability Assessment Program (FSAP) in 2012, the Superintendency of Banks of Panama (SBP) has made significant progress in updating its regulatory and supervisory framework. The SBP has implemented key elements of the international regulatory reform agenda, including...

GDP growth in 2023 was strong (7.3 percent), exceeding expectations for the third year in a row since the downturn in 2020. Unemployment is near pre-crisis levels while inflation has moderated. Government bond spreads increased in the second half of 2023 as markets became concerned that failure...

With droughts restricting shipping via the Panama Canal since mid-2023, the attacks on vessels in the Red Sea have caused a complete cession in LNG shipping between Europe and Asia via the Suez Canal. This disruption primarily affects LNG supply from the United States, Qatar, Russia, and North...

The Country Opinion Survey in Panama assists the World Bank Group (WBG) in gaining a better understanding of how stakeholders in Panama perceive the WBG. It provides the WBG with systematic feedback from national and local governments, multilateral/bilateral agencies, media, academia, the...

Purpose - This study provides empirical evidence on the impact of the Panama Canal expansion (PCE) on the economies of Latin American and Caribbean (LAC) countries, particularly in light of the emergence of larger container ships such as neo-Panamax and post-Panamax vessels....

We apply the Gross City Development Index (GCD-Index) by Ruiz Estrada and Park (2019) in the case of Panama City, Panama. The GCD-Index calculation is based on the concept of City integral sustainable development platform. The platform consists of ten main structures, which are (i) Main...

This paper examines the influence of transportation infrastructure on migration decisions in the context of the Great Migration in the United States. Focusing on the opening of the Panama Canal in 1920, we isolate the effect of improved economic opportunities from reduced migration costs. Using...

This Selected Issues paper presents the main features and weaknesses of the current Panamanian tax system and provides an international comparison of its performance. Panama's macroeconomic performance has been notably robust. Panama's macroeconomic performance has been notably robust, but...

This 2022 Article IV Consultation discusses that in the decade-and-half preceding the coronavirus disease 2019 pandemic, an unprecedented construction and investment boom precipitated a rapid economic expansion in Panama. The Panama Canal and Tocumen Airport were expanded, there was large scale...

This technical assistance report on Panama discusses macroprudential policy frameworks. The mission assisted the Superintendency of Banks of Panama (SBP) in developing a roadmap to strengthen the macroprudential policy framework in Panama. The mission found that the SBP has adequate capacity to...

This Selected Issues paper assesses Iraq's national pension system by examining the fiscal burden of budget-financed pensions and providing a sustainability analysis of the contributory pension scheme for public sector workers. It also outlines reform options that can assist the authorities in...

The separation of the country of Panama from what was then known as Gran Colombia was a conflict that was fueled mainly by third party interests and mutual benefits for Panama and the United States. The United States mediated and intervened within the political independence of Panama from...

“Trade Policy Reviews" analyse the trade policies and practices of each member of the WTO. The reviews consist of three parts: an independent report by the WTO Secretariat, a report by the government, and the concluding remarks by the Chair of the WTO’s Trade Policy Review Body. The opening...