Brazil currency plunge leaves Panama in the lurch

The biggest concern for Panama, one of Latin America’s fastest-growing economies in the past decade, is the currency devaluation hitting its larger neighbors to the south, President Juan Carlos Varela said in an interview.

Besides its namesake canal, Panama’s service-based economy relies heavily on travel and commerce. With a 35% drop in the real and the Colombian peso weakening 24% so far this year, there are less Brazilians and Colombians traveling to and shopping in Panama, Varela said.




Source: Bloomberg