From the desk of the Panama Maritime Authority Administrator, Noriel Arauz. Dear shipowners, customers and all seafarers. As the Panama Maritime Administrator supervising the Panama Ship Registry, I want to reassure our loyal customers who had trusted Panama to flag their vessels that our main priority is to follow the WHO recommendations for the protection […]
Miner First Quantum Minerals (FM.TO) is considering selling a minority stake in its flagship Cobre Panama copper mine to reduce debt, two banking sources familiar with the discussions said. First Quantum’s possible move comes as global miners scramble to bolster finances strained by the coronavirus pandemic, which has battered stocks and copper prices CMCUc1. First […]
The leaders of the region’s two largest nations — Mexico and Brazil — have largely dismissed the dangers and have resisted calls for a lockdown. Most leaders in Latin America reacted to the arrival of the coronavirus in the region with speed and severity: Borders were shut. Flights were halted. Soldiers roamed deserted streets enforcing […]
In the midst of the crisis caused by the Covid-19 pandemic, Panama went to seek economic resources from international markets. This was not an exhibition of shyness since the issuance of $2.5 billion was made over 30 years. Strong support was obtained from the international market, which constitutes a vote of confidence in our country. […]
On March 24, 2020, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation [1] with Panama and considered and endorsed the staff appraisal without a meeting. [2] After a decade of high growth, the economy slowed in 2018–19 and growth is estimated to have reached 3.0 percent in 2019. […]
The Holland America Line ship where four people have died, two have tested positive for covid-19 and nearly 200 report flu-like symptoms made it through the Panama Canal on Monday morning after days of uncertainty. Since March 22, the number of people reporting flu-like symptoms on the Zaandam has risen steadily, from 42 initially to […]
The US Justice Department unsealed an indictment on Venezuelan President Nicolas Maduro and other government officials last week, accusing them of “narco-terrorism.” The move is reminiscent of the 1988 indictment of former CIA asset and Panamanian leader Manuel Noriega. The Noriega indictment resulted in a US invasion of Panama that left hundreds – possibly thousands […]
The Panama Canal is set to operate with a reduced workforce for at least 14 days, and there has been a surge in booking cancellations primarily from the cruise sector. Panama Canal administrator Ricaurte Vasquez told a video conference on Friday that the waterway is operating with a workforce of 3,600 of its 10,000 employees, […]
Chris Dolmetsch at Bloomberg covers the ongoing saga about the former Trump Hotel. A former business partner of Donald Trump’s hotel company can pursue allegations that the president’s firm evaded income taxes on a project in Panama and under-reported employee salaries there, a federal judge ruled. U.S. District Judge Edgardo Ramos on Monday allowed the […]
Jessica Ramesch writes in International Living on life here in Panama. As I write this—halfway around the world from most who will read it—it occurs to me that we are all in the same boat. No matter where you are, there are worries…compassion for many who have lost jobs or worse, loved ones…and hope that […]