An interest in new tools and an attempt to steer clear of the international markets most affected by the financial crisis, have led investors in Panama to turn their eyes towards the local market, where they placed more than $14 billion by the end of July .
This important sum, which represents an increase of almost 20% compared to the same month in 2010, forms the investment portfolio for the Panamanian banking center, where most of the paper funds issued by the state and other are private issuers are placed, offering attractive rates compared to similar securities from other markets.
An article by journalist Edith Castillo in prensa.com notes: "This year the government has taken a leading role in the stock market, with a program of treasury bills and notes at the close of the first half of the year, auctioned for $554.1 million .
Moreover, the market is hungry for new tools, proof of this is is that the issuance of $395 million last month which the state-owned National Highways Company (ENA in Spanish) placed on the stock exchange in order to pay a large part of the concession for the South Corridor to the company ICA. The bond issue was made in two tranches: one local and one international. Locally, the ENA obtained $225 million at an interest rate of 5.25%, and in the international section it obtained $170 million at a rate of 5.75%. "
Source: Prensa.com
More on this topic
October 2011
The International Banking Center notes a dynamic expansion of the internal loan portfolio to 20.5%, and the same can be said for the portfolio investments, up 14.7% during the month of August.
A press release from the Superintendency of Banks of Panama reads:
The executive report of the Superintendent of Panama banks reveals that the net accumulation from January to August 2011 totaled $885 million, or $175 million more compared to the same period in the previous year. This result is mainly due to an increase to 11.7% in the lines of interest income and 38.6% belonging to other income.
April 2009
If we are to maintain growth and profitability in our portfolios, we should be much more aggressive in the types of instruments for investment.
The worst enemy of investment is inflation. In Costa Rica, this variable has increased significantly. According to estimates by the World Bank, it will remain one of the highest in the region.
June 2009
How irrationality affects decision making by investors regarding portfolio diversification.
The theories about portfolio diversification have an assumed initial basis: that investors’ decisions are based on the exercise of rationality. But, too often, this is far from reality.
August 2011
The National Highway Company (ENA in Spanish) has issued certificates on the stock exchange in order to raise funds for the South Corridor for the company ICA.
Using debt bonds, with one series placed on the international market and another in the local market, the ENA was able to raise $225 million in the local market at a rate of 5.25% and $170 million in the international market at 5.75%.
español
