Chamber of Commerce: Panama Needs to Get its House in Order or Pay a Heavy Price

Panama begins the year at a critical juncture. This was made clear by Juan Arias, president of the Chamber of Commerce, Industries and Agriculture of Panama, in his message following the President’s State of the Nation address, where he issued a direct warning: either the country gets its act together now, or the people will pay the price.  It wasn’t a speech meant to curry favor.

It was a direct call to restore credibility, put the finances in order, and lay a solid foundation for Panama to Return to stable growth.  Arias points out that addressing the sustainability of the Social Security Fund was unavoidable.  Not doing so would have condemned today’s workers and tomorrow’s retirees.  Addressing this issue made it possible to avoid a bigger crisis and open up space to focus on what was urgent: sound finances, employment and real opportunities, not political promises. 

Public Finances: Without Order there is no Investment or Employment

The Speaker of the House recalled that the country had been burdened with a high level of debt, interest payments that were consuming public resources, and a deficit that was limiting the State’s capacity.  Reducing that deficit, improving the country’s risk rating, and achieving a primary surplus sends a clear signal: Panama wants to get back on track.

For Arias, putting the finances in order isn’t just a technicality; it’s the foundation for restoring confidence and attracting investment.  In his message, Juan Arias emphasized that trust is built on clear rules, legal certainty, and consistency. Without these, no investment can withstand the pressure, nor can jobs be sustained.  “If there is no trust, there is no country that can move forward,” is the interpretation that his statement leaves. 

Youth First: Opening the Door to Employment

From the Chamber of Commerce, Arias reiterated his support for the Internship Bill, which he considers a key tool to give young people real experience and facilitate their entry into the world of work.  He also stressed the importance of supporting entrepreneurs, because they are the ones who generate employment, income and development in neighborhoods and in the interior of the country.  For Juan Arias, the country has a clear debt: to truly modernize its education system.

Not with stopgap measures, but with a structural reform, aligned with the demands of the modern world and sustained over time.  Without modern education there is no quality employment, no competitiveness and no equality of opportunity, he warned.  Regarding the mining issue, the Speaker of the House called for calm and responsibility. He appreciated that the matter was being addressed from a technical, environmental, and legal perspective, without improvisation.