One Of World’s Worst Education Systems Means Trouble For Panama

Panama’s education system listed as one of the worst in the world in the midst of an economic boom could hamper further expansion.

The assessment comes in a scathing Reuter’s report on Panama’s lack of attention to a key ingredient in achieving ongoing competitiveness and growth.

Many Latin American countries struggle with poor schools -- but none combine greater wealth than several European nations and almost double-digit economic growth with one of the worst education systems in the world. Except Panama.” says the report.

A global crossroads with 4 percent of global trade moving through its canal, Latin America's two busiest ports and a communications and financial infrastructure that draws global investors, Panama is running out of skilled workers.

Decades of poor schooling has created the problem which business experts say could soon slam the brakes on growth.

Panama, whose per capita gross domestic product in 2010 was $7,600 -- beating the likes of Romania, Bulgaria and Serbia, International Monetary Fund data show -- is expected to see economic expansion of some 9 percent in 2011.