Panama’s Economic Growth and Ongoing Projects were Praised by a Citibank Executive

Citibank’s (Citi) global head of corporate banking, Jason Rekate, was received this Tuesday by Panamanian President José Raúl Mulino at the Palacio de las Garzas.  The Citi executive praised the economic growth plan that the Panamanian government has structured with significant investments in public infrastructure.  Rekate also highlighted Citi’s historic relationship with Panama, which dates back to the implementation of the interoceanic canal.  Now, the entity offers its capabilities to structure financing for the country’s future major projects. This includes the government’s flagship projects and those executed by the Panama Canal Authority, such as the construction of two megaports and an interoceanic gas pipeline. 

The Citi executive also stated that he sees potential for Panama to become a regional treasury platform for multinational companies.  For his part, President Mulino took advantage of the visit to present some details of the projects his government is developing, such as the flagship Panama-David Train project, which is currently under study.  Rekate also emphasized the opportunities Panama will have by becoming the export platform for Mercosur, a bloc comprised of Brazil, Argentina, Paraguay, and Uruguay. He said this integration agreement will generate significant opportunities for Panama.  Also participating in the meeting were Malcolm Muñoz, CEO of Citi in Panama, and the Executive Secretary of the Secretariat of Economic Affairs and Competitiveness of the Presidency.