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Could Panama be a Singapore for Central America?

Friday, July 15, 2011

Panama’s smart banks, open economy and long queues of boats at its ports have caused many to compare it to Singapore, another steamy success story.

Panama is not even one-fifth as rich as its Asian model on a per- person basis. Singapore, however, would envy its growth: from 2005 to 2010 its economy expanded by more than 8 percent a year, the fastest rate in the Americas.

But unless Panama cleans up its government, it runs the risk of becoming the next Mexico rather than the next Singapore.

Original source: The Economist