Panama is the way

[Sir X]

https://www.youtube.com/watch?v=j2UxYIXZf6A


how does a country so small has such ........aaah sah , jamaica ,imf is the way.

[Gamma]

the big money maker there is still the canal ......

[Assasin]

Future Bright For Panama: IMF

by Mike Godfrey, Tax-News.com, Washington

13 April 2012


The International Monetary Fund has published its Article IV report in respect of Panama, noting that the country has exited the global downturn robustly, with a well-capitalised banking system, but efforts should continue to build upon the tax revenue base to reverse poor revenue performance witnessed last year.
The Fund has reported that Panama has rebounded strongly from the 2009 slowdown. Public debt has fallen as a result of rapid growth and prudent fiscal policy. However, last year capital expenditures and a lower-than-anticipated tax-take meant the nation's deficit expanded in 2011-12, to 3.5% of Gross Domestic Product (GDP) against a target of 2%.
The IMF said authorities' neutral fiscal stance for 2012-13 is broadly appropriate, but encouraged the introduction of measures to improve tax compliance. Authorities project that tax revenues will rise by 1.4% during 2013, supported by tax reforms enacted in 2009-10.
The IMF has noted that stronger revenue collection measures would create additional fiscal space, opening up the possibility of increasing spending on social programs and infrastructure. The IMF suggested that the country tackle tax evasion, expected to amount to 5% of revenues in 2011, by establishing a Large Taxpayer Unit and strengthening other fiscal controls. In response, Panamanian authorities noted that the introduction of fiscal cash registers in most retailers would help tackle tax avoidance and fraud.
On the banking sector, the IMF said that the recent Financial Sector Assessment Program mission confirmed strength and resilience in the banking sector, with high levels of liquidity. The IMF reinforced that maintaining strong Anti-Money Laundering and Countering the Financing of Terrorism (AML/CTF) safeguards is essential to supporting the further development of Panama's financial services sector, and welcomed the authorities' commitment to completing the AML/CTF assessment as part of the FSAP process by the end of 2012.
Financial sector oversight should be brought in line with best international practices, and all non-bank segments should be upgraded, in line with FSAP recommendations, the IMF said. "Although banking supervision is strong and effective overall, risk-based and consolidated supervision should be further enhanced. [In addition] potential reputational risks highlight the need to continue with efforts to strengthen oversight of non-bank financial institutions. Ongoing initiatives to develop capital markets, notably through the market-makers initiative, are welcome,” the IMF report says.
Concluding, the IMF said Panama has strong prospects for the future, noting in particular that survey-based competitiveness indicators and rankings had shown that, overall, Panama's competitiveness has been improving in recent years, and compares well with the largest economies in the region. Those surveys highlight political stability, infrastructure, and financial development as Panama’s strengths. Panama also maintains one of the lowest tax-to-GDP ratios in the region.
Lastly, the IMF noted that the recently-approved Free Trade Agreement with the United States is expected to boost further Panama’s status as a regional logistics hub. To continue to attract investment and promote employment, Panama will need to further improve the business environment and the labor market, the IMF concluded.

[Assasin]

So IMF is not the problem for Panama????

[Islandman]

Wait till the expansion done. Worries. Them skyline already put most US cities to shame.

When i was there I was staying at a location that you could see the dozens of ships lined up waiting for their bank draft to clear before they were allowed into the canal. Quite a sight.

They seem to have a decent leader as well. Was already a multi-millionaire before he went into politics.

[HL]

No they are not.

[HL]

Visited Panama (once) in the early 2000's before the expansion i've hearing and reading about.

Seems a disciplined country. That goes a long way.

Need to plan another visit shortly. Bet it's a great place to retire. Cost of living was not very high.

[Sir X]

How can they be Sass are they dictating government economic policy ? in other words is Panama under the IMF ? They have been booming since early 2000s...can you enlighten me on the history of the IMF in panama ?

[Assasin]

your logics is wrong. The iMF can be of help. It is our leaders we need to hold accountable.

[Sir X]

Mi knuw yuh can ansa lol...tell that to south America, esp Brazil Lula...bigger than me , will lick that argument down,Panama went through 16 IMF loan agreements with an average of 0.4 % growth until dem get it right , ow much we deapn suh far?....yuh right wid one thing our leaders need to be accountable, but that doesn't excuse the rapi$t which is the IMF....like mi say ask LULA!

[Assasin]

Like Brazil, like Panama, they went to IMF to stabilize their economy after it stabilize they can go for growth. We also paid off the IMF but unlike LULA PJ bought FINSAC.

Who you blame?

[Sir X]

lol...... stabalise...from the 60s dem a de- stabalise ...boss , blame to go around for all and that's been the debate ,from the bigger heads the imf needs to be more sympathetic to third world nations social concerns when they do restructuring loans ,loans that only benefit the IMF ,nations are left worse off than before with a bitter legacy not to return , in some cases they have no option but to return because the only industry left is flipping loans(borrowing debt to pay down debt ) They complain for too long its been a European and American run org, Brazil ,S. Africa & India wanted a change .

There will always be corrupt governments or systems that collapse and they need a helping hand , the USA is a prime example but they have the luxury to print money and dictate terms for growth, developing and third wotld nations don't , that's a legacy of the colonial shitstem, so you can sit back behind your chair stick your head in the sand and expose your you know what and absolve the imf , put it all on our leaders(which I don't excuse) but don't tell me , learned men/man that, they have no culpability....Bigger heads(Brics) know better.

[Assasin]

So the IMF must be sympathetic to corrupted goverment? Jamaica had the option of printing money and they did it until it is now worthless. They still can print more too. Don't fool yourself we are not tied to the US dollar.

The same people who cuss the IMF in the 70s and 80s are begging us to go to the IMF now. How things change. I don't believe in the IMF and I don't see them as our solution, to me they are a banker. We need to get ourself in order and stop blaming others. A so mi see it.

[Sir X]

Sympathetic to the people, I knew you would twist it like that to justify your nonsense, the IMF has great power in that they have the money , what if they put up stipulations that in order to get X amount of money , we need to enact laws to tackle corruption , revamp our tax code , laws that we know are antiquated and do us no good , instead they say we will give you X amount of money if you slash x , y and z , you could be a dictator a drug lord like Noriega in his days , they don't give a damm, just slash and give me the cash.


I know how you see it ...yeah print and inflation rise , we have been there before , a guess yuh nuh see nothing wrong wid di 16 loans and 0.4 % average growth.... a suh yuh see it.

[Assasin]

yeah but what ARE WE DOING FOR OURSELVES??? You think the IMF can change our corrupted culture? That is why the people suffering. There are some steps which the IMF enciurage to take are good others are not that good but we are the ones who keep messing up, not them.