Dulcidio de la Guardia, director and chief financial officer of Morgan & Morgan in Panama City and former Panamanian finance minister: “This year, Panama’s economy is expected to surpass the pre-pandemic nominal GNP of 2019. In 2021, GNP grew 15 percent after falling 18 percent in 2020. ECLAC expects Panama to grow 6.3 percent in 2022, leading Latin America’s economic growth. The country’s banking sector is recovering from the effects of the Covid lockdowns of 2020 and 2021. In July, profitability of the national banking system improved 44 percent as compared to 2021. The increase in profitability is the result of a 20 percent increase in net interest and commission income, and a 27 percent reduction in loan-loss provisions. Liquidity and capital adequacy of Panama’s banks remain strong and twice regulatory requirements. Credit growth (4.5 percent in July 2022 as compared to July 2021) has been sluggish, trailing the economic recovery by a wide margin. However, most sectors of the economy show positive credit growth, except for…”