For decades, Panama has enjoyed relative economic prosperity and political stability compared to its neighbors. But after years of simmering popular discontent that culminated in massive protests last year, and amid political uncertainty ahead of an upcoming presidential election, its economic prospects look grim.
Central America
Last week, Brazil’s Supreme Court published documents showing that the country came close to a coup in late 2022. Transfers of power are supposed to be routine formalities in democracies. Yet, from Brazil to Guatemala to the U.S., the hemisphere has seen incumbent presidents attempt to undermine democracy after losing elections.
Violence and corruption in Central America, particularly in the Northern Triangle countries, is causing a wave of outward migration. Since taking office, the Biden administration has pledged to tackle the root causes of the problem, which the Trump administration’s restrictive measures and pressure on regional governments did nothing to address. Meanwhile, efforts at reform across the region face opposition from entrenched interests that benefit from the status quo.