Reuters reported this week that Panamanian President, Martin Torrijos, is reporting a strong Panama banking system, amid the current global credit crisis.
Torrijos pledged preparation, responsibility, and management in order to insure that the country stays in a positive financial position. At an appointment ceremony for new Banking Supervisor Olegario Barrelier, an experienced banker.
Barrelier cited that Panama’s liquidity is at 58% of total deposits, with a total of liquid assets at $13.54 billion US dollars. Fortunately, Panama is not reliant on external funding. Advantages are due to the fact that Panama has no sub-prime mortgage market and is aggressively tightening up current credit. The banking environment is now home to over 80 international banks, and is one of the largest banking centers in Latin America including banks like HSBC, Citigroup, and BBVA.
Make your investment here in Panama! It is a great time to relocate or retire in Panama – the US dollar buys a significantly better quality of life. Despite the global financial crisis, Panama’s economy is expected to post a growth of 9.5 percent this year. Make your move – visit www.panama-land-for-sale.com to see our incredible land specials in Panama!
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