PANAMA CITY, March 10, 2023 – Today, World Bank Group President David Malpass met with Hector Alexander, Minister of Economy and Finance of Panama.
President Malpass and Minister Alexander discussed pressing issues for both Panama and the world, including responses to the global shocks from rising interest rates, inflation, and supply chain disruptions. President Malpass was glad to hear Minister Alexander’s priorities for development, including on achieving fiscal sustainability, improving the quality of education and the institutional framework, and strengthening safety nets and infrastructure.
President Malpass and Minister Alexander discussed growth policies, including promoting private sector involvement through sound regulatory and institutional frameworks for public-private partnerships. Acknowledging momentum on the registry of Beneficiary Ownership, President Malpass welcomed continued progress toward effective implementation of the remaining FATF steps. President Malpass emphasized that financing for critical public services would benefit from broadening the tax base and diversifying sources of revenue.
President Malpass and Minister Alexander discussed the importance of investing more in skills and promoting rural development to make Panama´s economic growth more inclusive and sustainable. President Malpass commended Minister Alexander for the government’s efforts to reduce structural inequalities that continue to affect vulnerable populations, particularly indigenous people, through faster implementation of the National Indigenous Peoples Development Plan. President Malpass underscored that Panama’s economy could benefit from providing students with a wider range of skills, improved primary education and foundational learning, and enhancing labor and work permit flexibility.
