Panama

Panama wants to double its tourism industry revenues in five years. Better organization will be needed to make that plan attainable.

Panama turned to the international markets to pre-finance spending for 2005. But when it's time to raise more money, it will stay closer to home.

Panama's free trade zone is a success, but it needs to invest more to improve infrastructure and security. Nobody is sure where the money will come from.

Although more Panamanian companies are eyeing local capital markets for financing, foreign issuers still dominate the landscape.

Panama City gained prominence as Latin America's premier offshore banking center, but it's not the only game in town anymore.

Although Panama is tantalizingly close to attaining investment-grade status, an upgrade may elude the country for some time yet.

For 91 years, the Panama Canal has virtually defined the country. Now a debate is underway over a $10 billion plan to widen the waterway so it can take bigger ships.