IFLR 1000
The Guide to the World's Leading Financial Law Firms

Panama

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An overview of Panama's sovereign wealth fund

Carlos Cordero G.
Alemán Cordero Galindo & Lee
Panama City

Coming off the back off of an unprecedented period of prosperity and growth, the Panamanian government recently created a National Savings Fund (the "Fund") as a forward-looking initiative aimed at safeguarding the country against future negative shocks (e.g., natural disasters, tail risk events, economic recessions, etc.). The product of an extensive canvassing of sovereign wealth funds from around the world and a review of their respective best practices, the Fund Law seeks to provide the Panamanian government with a sophisticated and transparent investment vehicle to manage the country's surpluses.

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A legal market guide

"Only Panamanian nationals can practice law in Panama, so it's difficult for foreign firms to set up shops here," one partner points out. As a result, the legal market in Panama sees little participation from international firms and is consequently dominated by a handful of local firms....

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Financial and corporate

CONTEXT AND TRENDS As one of the fastest growing economies in Latin America, Panama recorded a 10.6% economic growth in 2011 while many of the bigger economies just had a modest growth....

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See also

Panama
Latin America

Legislation guide

An overview of Panama's sovereign wealth fund

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