Panama's economy is expected to grow by 5.0 percent in 2025

According to Economy and Finance Minister Hector Alexander, Canada's first quantum-driven Donoso, a copper mine in Cologne, will recover slightly after it closes.

At the meeting where they will discuss innovative tools against financial crimes, money laundering, corruption, fraud and cybercrime, Alexander stressed that they will once again lead to growth in the region.

The Panamanian economy and finance ended with 7.3 percent in 2023, but if the mining situation had not occurred – forced to close operations after the Supreme Court ruling – it would have been 9. 0 percent, the highest in the region.

Alexander's reaction, at the forum, was when the media questioned the growth forecast for Panama given by the World Bank this year, where the country will grow by 2.5 percent, surpassing the Dominican Republic, Costa Rica, Nicaragua, Honduras and Guatemala.

The minister emphasized the focus of development on seven sectors namely logistics hub, manufacturing, tourism, construction, trade, financial intermediation, power and water.

Boom stood out among the drivers of the Panama Canal, air, sea and land transportation, and telecommunications; as well as in the cruise tourism and meetings sector.

Alexander highlighted the importance of the meeting and the need to work together in the fight against organized crime.

He also highlighted that the country has a single register of end-users, while stressing shared responsibility for implementing measures against money laundering, terrorist financing and other illegal activities.

Last March, Panama was able to exit the European Union's (EU) gray list, which favors its economy and foreign investment.

According to these reports, the EU has observed that legal standards have been strengthened in line with the Action Plan on Strategic Disruptions identified by the Financial Action Task Force (FATF), while the measures taken are effective.

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The government highlighted in the note that this process started in October 2020; He also recalled that on October 27, Panama was removed from the FATF gray list for the second time.

For his part, José Quezada, founder of the World Compliance Forum and president of the Foundation for the Study of Money Laundering and Crime, said Panama has led its institutions, its institutions and the public sector to change regulations.


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