Currently Panama's debt is $16,351,900,000 / 3,800,000 citizens = approx $4,300 is owed per citizen in Panama
Lets compare this to the United States:
$17,152,000,000,000 / 313,000,000 = approx $54,798 is owed per citizen
From a macro financial point of view, it seems like its easier to find “freedom” in Panama than it is in the United States of America – The average Panamanian suffers from less stress compared to the average North American.
Maybe this is why Panama was ranked as one of the happiest countries in the world by www.travelchannel.com
We believe its only going to get better, IF Panama continues to invest in Renewable Energy Sources, perhaps begin using Permaculture designs instead of traditional farming to lower costs of basic food necessities, transportation is very important for those who make minimum wage (approx. half the population)
ROBERTO GONZALEZ JIMENEZ
The stock of public debt at the end of February totaled $ 16 billion 351.9 million, according to the Directorate of Public Credit of the Ministry of Economy and Finance.
The increase in debt in the past year has been $ 2 billion 107 million, exceeding the total cost of the first Metro line of Panama, including all additions and addenda to the contract.
In the last five years, coinciding with the administration of Ricardo Martinelli, the debt grew $ 5 billion 846 million. And projected by the MEF, the rise will not stop for the rest of the year. According to the governing body of Frank De Lima, at the end of this year the stock of public debt will exceed $ 17 billion 200 million.
In these calculations the commitments made by the government in turnkey projects, payment of which will be finalized by the next administration are not included. This account works like multimillion expansion to four lanes between David-Chiriqui and Santiago de Veraguas, which will cost a total of close to $ 1.100 million and will be paid between 2015 and 2019
Is not considered in the official data the debt incurred by the Tocumen International Airport, the National Highway Company (ENA) and the Electricity Transmission Company (Etesa), since they were excluded from the non-financial public sector in 2011.
The three institutions are making substantial investments beyond the balance sheet. Tocumen, SA is building a new terminal, whose costs of up to $ 936 million; Etesa up a new power transmission line for $ 233 million, and ENA invests more than $ 1.200 million between the purchase and expansion of the North and South corridors.
SCHEME DEBT
The external debt stood at $ 12 billion 250.5 million at the end of January, with a marginal increase of $ 3.6 million (0.03%) compared to the previous month.
Public Debt reported that in February, the Cabinet approved the hiring of three new loans with multilateral agencies: $ 100 million for the Metro of Panama (with the Development Bank of Latin America-CAF); another $ 100 million for the expansion and modernization of the educational infrastructure (also with CAF), and $ 300 million (with the Inter-American Development Bank) for "Improving the Stability and Financial Transparency and Tax" program.
Meanwhile, domestic debt closed with a balance of $4.1 Billion and now represents 25.1% of the total.
In February, the total amount of disbursements received was $ 176 million, $ 122.3 million in Treasury notes and $ 54 million in Treasury bills, through public auction in the domestic capital market.
The government aims to further boost the local debt market with new issues.
Distances between a few countries and Panama
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