By Valerie Hernandez, International Banker
Panama continues its efforts to claw back from the shadow of the Panama Papers scandal. Its efforts seem to be paying dividends as the country returned third-quarter growth of 5.4 percent—slightly beating its 5.2-percent growth in the second quarter. At present, analysts expect that the country will see growth of 5.4 percent in 2017. With growth at such a robust rate, Panama seems to have regained its seat at the head of the Latin American regional growth table. Few countries have been able to match Panama’s growth dynamism or consistency.
A slate of factors has contributed to Panama’s roaring performance. Topping that list is the expanded Panama Canal and the windfall of revenue entering Panamanian coffers from its swelling traffic. The $5.3 billion canal expansion has ushered in a new generation of larger Panamax ships capable of transporting substantially larger amounts