A key issue to look into before you move somewhere is the financial health of the country.  Panama is ranked the highest in Latin America. In line with the revision from stable to negative for the outlook for sovereign debt, Fitch Ratings has also downgraded the outlook for the debt of state banks and two […]

The bill presented by the Varela administration in the National Assembly stipulates sanctions of 2 to 5 years and fines up to 10 times the amount defrauded. From a statement issued by the Ministry of Economy and Finance:   January 18, 2018 The Ministry of Economy and Finance (MEF) today presented to the National Assembly a […]

Reuters reports from Brussels. European Union finance ministers agreed on Tuesday to remove eight jurisdictions, including much-criticized Panama, from the bloc’s blacklist of tax havens, one month after the list was set up. The decision prompted an outcry from lawmakers and activists. Barbados, Grenada, South Korea, Macao, Mongolia, Tunisia and the United Arab Emirates joined […]

Speeding up the execution of public projects and creating a public-private entity that enhances exports, are some of the proposals put forward by the business association to reactivate different economic sectors. From a statement issued by the Chamber of Commerce, Industries and Agriculture of Panama: Although we expect  growth of the Panamanian economy of approximately […]

In just four operations in the first 15 days of 2018, the Panamanian Public Forces intercepted 1,102 kilograms of cocaine. Units from the Panamanian Air and Naval Service (SENAN, in Spanish) conducted operations on the Pacific coast of Panama. As church bells still rang in the new year, SENAN interceptor boats patrolled Panama’s Pacific region. […]

In the wake of a high-profile tax evasion scandal, Panama’s economy and finance minister said Thursday that the country was working with the international community to combat financial crime and tax evasion. Dulcidio De La Guardia, Panama’s minister of economy and finance, said the problem of tax evasion was not limited to his country. Speaking […]

Prensa Latina reports on recent recovery of cash from Operation Blue Apple. The Public Ministry (MP) ordered the seizure of illegal money in local banks, as part of the most recent corruption scandal in Panama, known as Blue Apple, said today the local media.   According to the newspaper La Prensa, the 6th Anti-Corruption Prosecutor’s […]

With IDB financing, renovation works will be carried out on the National Theater, a museum, fortifications in Portobelo and San Lorenzo and in national parks. From a statement issued by the National Economic Council (CENA): The CENA has issued a favorable opinion on two projects for loan contracts for the sum of 107 million dollars […]

By Isis Almeida (Bloomberg) — Cryptocurrencies are making inroads into food commodity trading. The first freight deal settled in Bitcoin was executed last month on a vessel carrying wheat from top shipper Russia to Turkey, according to Prime Shipping Foundation, the venture behind the transaction. The consignment was part of pilot testing of Prime Shipping […]