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Fitch: Panama's Varela Makes Some Fiscal Progress in First Year

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NEW YORK--(BUSINESS WIRE)--After doubling to 4.1% in 2014, Panama's deficit should fall to 3.6% in 2015 on modest fiscal consolidation efforts taken by President Juan Carlos Varela's administration in its first year, Fitch Ratings says. Varela was elected in 2014 on a platform of improving government accountability and transparency and addressing social demands in the context of fiscal discipline. In our view, fiscal consolidation consistent with a reduction in government indebtedness, enhanced

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