May 2002
Safe haven status starts to slip
Panama
In terms of recognition by foreigners, international
finance in Panama has taken something of a back seat to its famous
canal and its role as a shipping hub. But while its small stock
exchange may not have inspired investors over the years, the
country has made itself into a safe haven in Latin America for
sovereign debt investors.
Offering tidy rates of return of 9% and above on Panama global and
Brady bonds and supported by a stable, dollarized economy, the
country has always been an option should things go awry in Latin
America's big economies, such as Mexico, Brazil...
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