Panama

Creditworthiness is supported by an established system of dollarisation and a manageable public debt/GDP ratio-just under 40% of GDP-although this excludes contingent liabilities related to turn-key public-works projects amounting to over US$2bn. The government ran a fiscal deficit equivalent to 2% of full-year GDP in the first half of 2013, and GDP growth has slowed from double-digit rates, but economic performance remains supportive.

Largest Public Companies

• Copa Holdings SA
• Inretail Peru Corp
• Banco Latinoamericano de Comercio Exterior, S.A.
• Norstar Holdings Inc
• Thunderbird Resorts Inc.
• Balsam Ventures, Inc.
• Banco General S.A.
• Banco Panameno De La Vivienda, S.A. (Banvivienda)
• Banistmo S.A.
• Financiera Automotriz SA