Panama’s Investment and Banking Boom
Published on: Thursday 29 June 2023
A quarter century ago Panama epitomized the political and economic dysfunction then rampant in Central America. In 1989, U.S. armed forces invaded the country and deposed its dictator, general Manuel Noriega, who was later convicted and imprisoned for drug trafficking and money laundering. Local banks were notorious as places where shady characters from around the world could keep their cash away from prying eyes. Panamanians, having one of the lowest Latin American income levels, had little money of their own to hide. So complete was the disarray that many doubted the U.S.
News source: https://www.institutionalinvestor.com/article/2bsu9kfm8a0ikhw5tvc3k/portfolio/panamas-investment-and-banking-boom
