Precautionary Credit Line Provides Panama with Crisis Insurance : Weekly News Roundup, January 22nd, 2020

Jan 22, 2021 | Uncategorized

Welcome to the Panama Weekly News Roundup! Here’s the latest.

Precautionary Credit Line Provides Panama with Crisis Insurance

After over two decades of record high growth, Panama is facing a sharp economic contraction following months of pandemic-related lockdowns.

With support from the IMF, the government is combating the economic shock, but with a second wave of contagion potentially underway, the country is using the precautionary liquidity line as an insurance policy against new shocks.

Source: IMF News

ICU nurse receives first COVID-19 vaccine in Panama.

Violeta Gaona, a 59-year-old nurse, on Wednesday became the first person vaccinated in Panama against the novel coronavirus disease (COVID-19), following the arrival of the first batch of vaccines developed by Pfizer-BioNTech laboratories.

Panamanian President Laurentino Cortizo was on hand for Gaona’s vaccination at the publically-run Santo Tomas Hospital in Panama’s capital, which was broadcast live on television.

Gaona, who has worked 37 years in the hospital’s Intensive Care Unit (ICU), said she was a little nervous but positive about getting the vaccine shot, as doctors and nurses were prioritized for immunization.

Those attending the event broke into applause after she received the shot, and Cortizo hailed the contribution of healthcare workers in combating the disease in the lead up to the vaccination campaign.

Source: Xinhua Net

Venezuela reopens flights to Panama and Dominican Republic

Venezuela’s civil aviation authority said on Monday it is reopening flights to Panama and the Dominican Republic that it shut last month due to coronavirus pandemic.

Last year, Venezuela allowed flights to Turkey, Mexico, Bolivia, Panama and the Dominican Republic, but weeks later halted air service to the latter two countries as part of its coronavirus prevention strategy.

The flights to Panama and the Dominican Republic are once again authorized, the Civil Aeronautics Institute of Venezuela said in a statement posted to Twitter.

Source: Reuters


Buying Real Estate in Panama? Read this first…

Have you been considering buying real estate in Panama as an investment, or as your next home? Real estate in Panama is quite popular for international buyers, with a growing market in both new and old properties, and long-term rental potential all over the country.

Real estate in Panama is diverse, dynamic, and can truly fit any budget, as long as you know where to look, (and more importantly) what you’re looking for. The hardest part for most people when it comes to buying Panama real estate is getting the whole process started. How do you find the properties? How do you get info on the local market? Most importantly, how do you know if what you’re getting is worth it? Don’t worry, that’s what we’re here for.

Source: POLS Blog

POLS Attorneys Staff Writer

POLS Attorneys Staff Writer

As one of the leading Panama Law Firms, and one of the regions most reliable offshore service providers, POLS Attorneys brings a wide range of professional knowledge to our clients needs. Our staff is made up of professional offshore consultants, Panama attorneys and immigration specialists who are experienced in offshore business, understand international investment and asset protection strategies, and are experts in providing a seamless Panama immigration process.

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