We wanted to share this article on Forbes, written by Steve Forbes, that takes a deep and detailed look at what the “Panama Papers” were all about.
He first starts out by describing what Panama’s economy is really like. It’s currently one of the best success stories in the world, with a strong and consistent growth rate.
The reality of the situation is the exact opposite of what most people imagine when they hear the words “Panama Papers” and “tax haven.”
Panama City is becoming the financial center of Latin America, and investors continue to see a bright future in the country.
We recommend checking out this article for a clear and distinct description of the financial structure that is supporting all this growth.
In the article, the writer states that “Panama wants to become the next Singapore,” and that’s a pretty good way to look at it.
Of course, he’s not claiming that the country has already achieved some kind of utopian state. There are always challenges, which the Panama Papers certainly highlighted.
The country continues to make changes and adapt new policies to improve financial transparency and reduce problems while still maintaining an environment that is beneficial to offshore corporations.
See the full story here: https://www.forbes.com/sites/steveforbes/2016/05/10/the-real-story-about-panama/