Panama and Costa Rica lead competitiveness

Panama, Costa Rica and Chile are the most competitive countries in Latin America, according to the World Economic Forum's annual competitiveness ranking.

Panama ranks second in Latin America and first in Central America, despite dropping eight spots to number 48 in this year's list, due mainly to problems it faces such as its struggle in tackling corruption and efforts to improve the government.

Costa Rica is in second place in the region, and in this year's ranking climbed three spots to number 51, due to its education, innovation and considerable progress in information technology and communications, the list said.

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