Panama’s Varela to face fiscal hurdles: Fitch

Panama’s Varela to face fiscal hurdles: Fitch

Economy & Policy Corporate & Sovereign Strategy

Juan Carlos Varela, who won Panama’s presidential election on Sunday, will need to tighten spending after he comes to power, Fitch said on Monday. The president elect will inherit a buoyant, but slowing economy, as well as a construction strike that has paralyzed works to expand the Panama Canal since late April. “Vigorous growth has helped the country improve its credit profile relative to ratings peers, but it has not led to significant fiscal consolidation in recent years, with the country po

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