Happy New Year?

PANAMA - Report 04 Jan 2014 by Marco Fernandez
Three surprises (one because of its size, a second one internally provoked and the third, exogenously determined) were the relevant economic events of the final days of 2013 and the first day of 2014. Let us review them. The big jump in minimum wages for 2014-2015 Every two years, the Government ends up determining the new minimum wages for the next period because neither labor unions nor private sector leaders agreed on the new levels. As expected, and given the closeness of general elections (May 2014), the increase determined by the Martinelli Administration was higher than the market ex...

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