“During the last couple of weeks, Panama — with expected annual economic growth of 7 percent this year — has faced what hardline socialist nations such as Cuba and Venezuela experience every day: food shortages. As many experts warned, and only 15 days after newly elected President Juan Carlos Varela announced the price-control law, the empty shelves are everywhere.  On July 7, Varela’s administration selected 22 retail products from Panama’s basic food basket for the ‘Pocket First’ program. The implementation of price caps is supposed to save families up to US$58 per month, and ‘rectify speculation.’  The productive sector is already feeling the pain.”

http://panampost.com/marcela-estrada/2014/07/21/econ-101-for-panama-new-price-controls-bring-rampant-shortages/

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