GUALACA    |    CHIRIQUI    |    REPUBLIC OF PANAMA

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Panama Debt Rating Outlook Raised to Positive by S&P

Panama’s credit-rating outlook was raised to positive by Standard & Poor’s, putting the Central american country on the cusp of an investment-grade rating, as tax increases and faster economic growth help keep the budget deficit in check. S&P boosted the outlook from stable on the nation’s BB+ rating, which is one level below investment grade and in line with countries including Egypt and Romania.

The Panama Canal, which is undergoing a $5.25 billion expansion project through 2014 to handle larger vessels, will help propel the country’s economy, S&P said. President Ricardo Martinelli’s tax reform will boost revenue by about 0.75 percent of gross domestic product, helping fund the country’s “ambitious program of public investment,” according to S&P.

Known as the Crossroads of the World, Panama is a place where two continents and two oceans meet. The country delights and surprises tourists by offering modern luxury and virgin rain forests.The dollar is Panama's currency-a great convenience. That's right! In Panama, there's no need for currency exchange. You don't have to be a mathematical genius to figure out what that meal just cost or how much to tip the bellboy. All your bank accounts and investments are all also in US dollars. Panamanians are the friendliest people in the world.Panama has many choices for both the hard and soft adventure seeker.Boquete, Chiriqui, Bocas del Toro.

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