Panama economy still strong



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By Jaimie Kanwar Despite the ongoing global slowdown, Panama's property sector continues to be one of the world's most resilient marketplaces. With the massive canal expansion plan well under way and projects like Trump towers and other massive sky-scraping developments, being built and dominating the skyline, Panama is performing well amid the global downturn. But one overseas property expert sees a massive boost for Panama's economy in 2009, which in turn would help the property market stay resistant. Les Calvert, director of overseas property portal Property Abroad explains: "Panama's economy stayed strong throughout 2008 and it is widely expected to stay the same for 2009 -- the Trade Promotion Agreement would help massively in this aim." "The TPA between Panama and the US still hasn't been ratified by the US Congress. It is widely thought that the Panama TPA won't be passed before the Colombia TPA, which is now causing the delays. However, most analysts see both being ratified in 2009."