State-Owned Enterprises in Panama

Summary

Panama has a significant and diverse state-owned enterprise (SOE) sector, comprising 16 non-financial enterprises, 5 financial institutions, and the Panama Canal Authority (ACP). The ACP operates under a specific legal and budgetary framework that ensures its institutional autonomy, which has been key to its success. The other SOEs operate under a different legal framework and have seen mixed performance. Drawing lessons from the success of the ACP, greater independence in their governance, finances and operations, coupled with increased transparency and more effective oversight, would likely help improve their financial performance as well as the quality of the services they provide.

Subject: Auditing, Budget planning and preparation, Corporate governance, Economic sectors, Financial statements, Internal audit, Privatization, Public enterprises, Public financial management (PFM), Public sector

Keywords: Auditing, Budget planning and preparation, Corporate governance, Expenditure, External audit, Financial statements, Internal audit, Panama Canal Authority, Privatization, Public enterprises, Public sector, State-Owned Enterprises