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“Not a Penny Left on Table,” Says Panama

Mar 20, 2009

Panama’s $323m reopening of its 2015 bonds was not priced cheap, its public credit officials say. Nor was it hindered by Wednesday’s US Treasury rally that caused other EM deals to wait, contrary to what investors and bankers suggest, government officials tell LatinFinance. “I don’t think we left a penny on the table,” says a senior official at the directorate of public credit at Panama’s ministry of finance. Demand would...

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"[While] it’s good to build more infrastructure and increase investment, you have to be conscious about the macro effects of too big an increase in domestic demand, including of course public expenditure."

Julio Velarde, Peru central bank


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