Panama’s Democracy, and resulting Prosperity
Friday, August 7, 2009 9:25
The recent passing of Cory Aquino from the Philippines served as a reminder of the days in which Panama had also been subject to the rule of notorious dictatorships, under the likes of Manuel Noriega. Cory’s life was celebrated throughout the world, with her inauguration as the first female president of an any Asian country and that of the Philippines, representing the beginning of a democratic led Philippines in the mid 1980s.
Panama’s development as a democratic country has followed similar paths as that of any newly installed democracy, and although there have been the expected problems along the way, the democratic leadership of the strategic country of Panama has shown discipline, foresight and sound management of the country. This insightful leadership has contributed to the success of the country as represented in the fact that it is one of the top rated tourist and retirement destination, as well as one of the strongest economies in the Central American region.
The United Nations Commission on Latin America and the Caribbean (ECLAC) recently recognized the achievements of the country, and her leadership, in the partial eradication of poverty in the country. The drafting and promulgation of the various laws and the management of the country from the leadership perspective, is revealed and celebrated with the amount of investment that flows into the country, this investment has resulted in favorable growth within the country which goes towards alleviating impoverished communities and individuals.
The sound economy has resulted in Panama having the highest per capita rate in Latin America, and although the real estate boom is said to have leveled off due to the recession, large capital projects and initiatives continue to attract investment and interest from across the world. With the real estate market having somewhat cooled down, has resulted in a number of bargains being realized in terms of available land and other real estate opportunities in Panama. These opportunities are set for growth due to the continued development of the country, notwithstanding the Canal expansion, as well as the various inter city projects, such as the metro for the capital, Panama City. Panama’s proven democracy and growth results in a stable and growing economy that is consistently rated as one of the top countries for investment within the region.
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