Welcome to the Panama Weekly News Roundup! Here’s the latest.
IMF Staff Concludes Visit to Panama.
A staff team of the International Monetary Fund (IMF), led by Alejandro Santos, visited Panama during May 21-June 1, 2018. At the conclusion of the visit, Mr. Santos issued the following statement:
“The economy of Panama remains among the most dynamic and stable in Latin America despite the recent prolonged strike in the construction sector and the relative weakening of economic activity in the first quarter which will lead to a downward revision of our growth projection of 5.6 percent for 2018 (by about 1 percentage point). At the same time, the recovery from the impact of the strike and the coming on stream of a large copper mine will lead to an upward revision of our growth projection of 5.8 percent in 2019 (by about 1 percentage point). Over the medium-term, the economy will gradually converge to its potential growth of 5.5 percent. Inflation will remain low and is expected to pick up to about 2 percent in 2018 mainly due to higher fuel prices.
Source: IMF.org
Panama – Coffee processing facility opened along Panama Canal.
The Panama Canal Authority (ACP) inaugurated the first coffee processing plant along the canal on May 28, according to China’s state news agency Xinhua.
The Panama Canal Authority (ACP) inaugurated the first coffee processing plant along the canal on May 28, according to China’s state news agency Xinhua.
Source: Agra.netf
Panama’s church leaders hope World Youth Day strengthens parishes.
The Church of Christ the Redeemer was built with Panama’s hot and humid weather in mind. There are no walls on the building. Its tall round roof is supported by cement columns spread far apart so that a good amount of breeze can make its way down the church’s aisles.
But there was no way to stave off the heat in April as a group of some 500 young men and women packed the large church to pray and dance at a service in preparation for next year’s World Youth Day.
The young people swayed back and forth, waving their arms joyfully, as they sang a hymn about being “invaded” by God’s love. A volunteer who led the service urged them to invoke the Holy Spirit and to pray for young people who had lost faith in themselves.
Source: National Catholic Reporter
Panama’s First World Cup: What you need to know before the tournament
This year, for the first time ever, Panama has made it to the World Cup! Now, while that may not seem like a big deal for those from bigger countries, especially those from Europe or South America, for Panama, it is a BIG DEAL.
Panama will be headed to Russia to compete with 31 other teams from all around the globe, in the world’s biggest tournament, for the world’s most popular sport. For a small country, and one that (until recent years) hasn’t focused much on soccer in the past, getting this opportunity is something that doesn’t come around very often. Panama now has a chance to make history, and while doing so, ignite the passions of Panamanians everywhere, both at home and abroad.
Source: International Relocation Firm Blog
