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The matter of whether or not former Panama strongman Manuel Noriega comes back to Panama next January or goes to France to prison continues. Noriega has a hearing to decide the issue in court in Miami. According to press reports France is “losing interest” in the case based in part upon difficulty reaching an extradition agreement with Panama. If Noriega returns to Panama he will likely go directly to prison as he was convicted in his absence for murder and human rights crimes by Panama.

Manuel Noriega’s rule in Panama in generally remembered as a bad time although some have memories of a time with less crime because of the ruthlessness of the police during that era. The issue of crime in Panama is, in fact, an issue in the upcoming general elections.

Manuel Noriega’s Regime and Brutality

One man in a political family in Panama was reported by the press as saying that if Noriega returns he, the man, want to ask Noriega where Noriega’s thugs put the head of the man’s brother when they murdered him. During his rein Manuel Noriega had his own private army.

Since the average Panamanian was under eight years or not born when Noriega was overthrow half the population will have little or no recollection of Noriega or his regime. These folks could not care less.

In the Panama of today business is booming. Investment in real estate has made fortunes. There are plenty of jobs for skilled and manual laborers. In fact, one finds skilled workers and professionals from other Latin American countries in Panama looking for work. When a professional from Chile or Costa Rica comes to Panama for work that tells you where the economic activity is in Latin America.

Although the press covers all Manual Noriega news diligently the man is, essentially, yesterday’s news. In Panama the issues are jobs and relief of poverty, jobs and opportunity, health care, housing, and public safety. Noriega’s regime was overthrown 19 years ago. France convicted Noriega in his absence for money laundering. He was said to have bought property in France with drug money. As the matter of Noriega spending time in a French prison plays itself out it appears that Noriega is yesterday’s news for France too. The world is going into recession with the danger or another great recession. There are bigger fish to fry in Europe.

On the subject of recessions and depressions Panama will likely not be involved except for a slight downturn in gross domestic product growth next year from 10% annual growth to 6% growth. Conservative banking laws, strong foreign investment, and sitting at a crossroads of world trade help. A pro business government that attracts and keeps investment helps too.

If you are interested in the ongoing sage of Manuel Noriega follow the Panama Star. This is the English language insert in La Estrella. If you are interested in Panama real estate investment come to see the folks with 23 years experience managing real estate portfolios, ABPanama.