More recently, Panama has been facing the possibility of losing its investment grade due to Terrible economic management of the Government. The policies implemented, or the lack thereof, provoke strong criticism and questions.
Economy Minister Alexander found himself in trouble when he was questioned country’s debt. Instead of offering clear answers, his speech was diffuse, adding to uncertainty about the economic outlook. Such avoidance of answers only increases the mistrust of citizens and investors.
One of the most alarming aspects is the exponential increase in debt during the Cortiz administration. Doubling the debt without any obvious benefit is a serious warning about the government’s irresponsibility. The so-called ‘Cortizo-Gaby era’ has been criticized for its excessive debt, which exceeds that of all its predecessors. But where did all that money go?
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It is fair to admit that during the Martinelli administration, significant infrastructure investments were made that benefited the country. However, later administrations, under Varela and Cortiz, did not follow that path. Lack of larger projects i uncontrolled salary increase conditions are signs of poor economic management.
The possibility of losing the investment rating is a wake-up call for everyone. Economic stability is essential for the country’s sustainable development, and current indicators are cause for concern. With elections just around the corner, it will not be easy for the next government and it will have to take concrete steps to address these issues and restore confidence at the national and international levels.
Many demand punishment for managing the economy, raising ethical and legal questions. However, it highlights the frustration and dissatisfaction of the population before the decisions made by the current government. Transparency and accountability are key to restoring trust and avoiding more severe economic consequences.
In short, it is imperative Panama is rethinking its economic policy and demonstrate a clear commitment to the country’s financial stability. Losing investment grade would be a significant blow, we are learning from our mistakes and working towards a stronger and more sustainable economic future.
Source: Panama America
I am David Miller, a highly experienced news reporter and author for 24 Instant News. I specialize in opinion pieces and have written extensively on current events, politics, social issues, and more. My writing has been featured in major publications such as The New York Times, The Guardian, and BBC News. I strive to be fair-minded while also producing thought-provoking content that encourages readers to engage with the topics I discuss.
