The rating actions follow the affirmation of Panama’s IDR at ‘BBB-‘ and the revision of its Rating Outlook to Stable from Negative. The revision of Panama’s Outlook to Stable reflects the ongoing improvement in the fiscal position and a better-than-expected economic recovery following the initial pandemic shock. Fitch’s fiscal expectations have improved amid a stronger-than-expected […]
Warmer temperatures this winter in Asia and higher gas demand in Europe are cutting demand for transit of vessels carrying liquefied natural gas (LNG) through the Panama Canal, the waterway’s authority told Reuters on Wednesday. The Canal overall is facing higher seasonal demand for vessel passage with an average of 39 ships per day, and […]
The Ambassador of Panama in the Dominican Republic, Pablo Javier Pérez Campos, revealed that as a result of the agreements reached at the Summit Alliance for Development in Democracy held December in Puerto Plata, between the presidents of Panama, Costa Rica, and the DR, the would develop a tourist circuit between nations to provide visitors with a special and innovative experience, thus […]
The Latin American country has experienced one of the world’s most impressive—and surprising—trajectories of the past three decades. Panama gets a lot of bad press. Last October, its name was in the news again over the Pandora Papers. Nearly half of the hundreds of politicians and public officials (including three former Panamanian presidents) mentioned in […]
Minera Panama, which is majority owned by First Quantum Minerals (FM.TO), has agreed to pay $375 million a year to state coffers from the Cobre Panama mine, which it says is one of world’s largest copper producers. “We accept the proposal of the national Government, while requesting that the necessary protections be provided in order […]
An incident with a slingshot led scientists to a greater understanding of the relationship between the insects and their host trees. WHILE MANY PEOPLE IN PANAMA were at home, passing time during the pandemic, five kids were out shooting a clay ball at trees with a slingshot. They wanted to give themselves a challenge, so they […]
Panama’s new law on near shoring was signed in December by President Laurentino Cortizo. The law, which still needs rules and regulations, regulates coastal and near shoring activity in Panamanian waters and other areas of the coastal environment. Companies undertaking near shoring need to have an ownership structure where Panamanian nationals own at least 75% […]
A son of former Panamanian president Ricardo Martinelli plans to plead guilty to U.S. bribery and money laundering charges linked to Brazilian construction firm Odebrecht, his lawyer said on Tuesday. Luis Enrique Martinelli was extradited on Monday to the United States from Guatemala, where he was arrested in July 2020. He said at Tuesday’s virtual arraignment in […]
Copa Airlines is resuming flights between Denver International Airport and Panama City. The international flights between Denver to Panama will operate four times per week on Boeing 737-800 aircraft. Copa Airlines inaugurated service at Denver in December 2017 and ceased operations in March 2020. “Copa’s return contributes significantly to the continued rebuilding of Denver’s global […]
This fall has seen unprecedented protests in Panama, after President Laurentino Cortizo signed an antidemocratic electoral reform into law. In a country whose population numbers little over 4 million, up to five thousand people took to the streets to denounce a government move that limits press freedoms during campaign season, weakens independent candidacies, and rejects […]