Panama Economy

It is located at the southern most point of the Central Americas on the Isthmus. The Panamanian economy with a population of approximately 3.6 million (Census 2012) ranks 88th in the world with a GDP PPP of more than 50.6 billion USD according to the IMF in 2011. The official currency is the Panamanian balboa (PAB) as well as the U.S Dollar. With the official language Spanish, the fixed interest products banks offer are called 'Depůsito a Plazo Fijo' or time deposits. The World Factbook published by the CIA has the estimated the country to have the inflation rate of 5.9% in 2011 and 3.5% in 2010.