Panama has become one of the fastest-growing countries within LatAm last decade and its GDP is expected to experience an increase of 5.5% this year. Panamanian economy stands out in Foreign Direct Investment (FDI), which made 11% of the country's GDP in 2016: the highest rate in Latin America.
Panama's Vice-Minister of Finance Eyda Varela de Chincilla attended last Ibero-America in Business Forum organised by Expansión and sponsored by ONTIER, Kreab and Goya. There she stated that 'the economy of the country wasn't affected by the 'Panama Papers' issue, at least in the short term. They only had a little impact in terms of reputation.'
Panama's Government approved a $20 billion investment for the next 5 years, which can benefit Spanish companies. Currently Spain is the 5th biggest investor in Panama.
For further details, you can check out this article by Expansión: 'The Panama Papers didn't affect the economy of the country' (SP only).