World Economic Forum ranks Panama second in Latin America

Panama has moved ahead of Mexico this year to claim second only to Chile in the World Economic Forum ranking of overall index of competitiveness. Panama still comes out on top of Costa Rica for the 2nd year in a row. Although Panama received excellent scores in property rights, financial markets, infrastructure and macroeconomic stability it rates near the bottom on quality of education (108), judicial independence (115) and rigidity in the labor regime (126), among others. When you consider that 134 countries were evaluated, Panamas ranking at 58 put it well into the lower half of the world pack. To be ranked second in Latin America speaks volumes of the problems all of Latin America continues to face.

The three areas that Panama ranks low on are the very subjects I usually rail against in my blog. Poor education, corrupt judicial system and difficult labor laws.