Betting on Beauty

Betting on Beauty

Panama

Panama's tourism minister, singer-actor Rubén Blades, has ambitious plans for transforming his sector into a key component of the country's economic development program. He wants to turn to the international capital markets to help make it a reality. Ruben Blades Blades has proposed a $100 million, 10-year sovereign bond issue to raise funds for the Panamanian Tourism Institute (IPAT), the country's tourism promotion and development agency. Planning is still in its preliminary stages and Blades is not sure whether IPAT itself or the sovereign would be the issuer. The government has optimistically predicted that

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