Is Panama Better Off Now Than When Varela Took Office?

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Jaime A. Jácome de la Guardia, Panama-based partner at Diaz, Reus & Targ LLP: “Panama has the second-highest economic growth rate in the region, the highest rate of foreign investment, more efficient public services than average, good transportation infrastructure, communications and energy, a dollarized economy, a sophisticated financial community and a stable liberal democracy. These elements contrast with weak institutionality that is loaded with bureaucracy, corruption and lack of planning and accountability, a slow and unreliable justice system and a populist legislative power.