LatinNews Daily - 19 August 2020

* Panama’s Labour Minister Doris Zapata has warned that Panama could end 2020 with an unemployment rate of between 20%-25% due to the impact of the coronavirus (Covid-19) pandemic, up from 7.1%. Zapata also warned that the percentage of those working in the informal sector could rise from 45% to 55%. Speaking at a virtual forum, Panama Forum 2020, Zapata said “it’s alarming, we are talking about around 460,000 to 570,000 [unemployed] people, a big impact on our economy and, of course, on our workforce”. The minister highlighted that the government was already facing a big challenge with 45% of the population working in the informal sector, adding that it is necessary to “organise a social dialogue”. Panama’s President Laurentino Cortizo recently forecast that Panama’s GDP is due to shrink by 9% in 2020.

End of preview - This article contains approximately 136 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial