Week in Review December 27


In 2018 Panama will have the greatest economic growth in Latin America and the Caribbean, it was announced the Economic Commission for Latin America and the Caribbean (ECLAC) from Santiago, Chile. Cepal estimates that the country will grow 5.5%; while 2017 will close with 5.3%, when they projected 5.6%.


The Panama Canal Authority (ACP) will contribute $1,650 million to the National Treasury, which represents $50 million more than what was budgeted. The contribution of $1,650 million in surpluses from operation of the interoceanic waterway is based on per net ton and payment for services received by other State entities. It is the largest annual amount remitted by the Canal to the Panamanian National Treasury.


Panama’s expanded canal reached a new record with the 2,500th transit of a neopanamax-type vessel, the largest capacity for container transport, the waterway administration reported. With the label “NosEncantanLosRetos”, the Panama Canal Authority (ACP) indicated in its Twitter account “We continue to overcome challenges! Today the OOCL Malaysia becomes the neopanamax transit 2,500 for the expanded Canal”


Angelica Martin, the Director of the Transparency and Information Authority (Antai) said that the members of the Board of Directors of the Panama Canal Authority (ACP) appear to have a kind of “Corsican Patent” that protects them. However, President Juan Carlos Varela can publicly request the resignations of Nicolas Corcione and Heri Mizrachi, from the Canal Board, who are charged in the case that is being followed by the Attorney General’s Office for the purchase of the newspaper group Editora Panamá América, SA., with supposed public funds.


China’s Trade Minister, Zhong Shan, arrived in Panama with the aim of advancing the trade and cooperation agenda between the two countries, following the recent establishment of diplomatic relations, an official source said. The official agenda began with an audience with President Juan Carlos Varela, and an expanded meeting with State ministers, said a statement from the Ministry of Foreign Affairs of Panama.


The Administrative Attorney General recommended to the State airport company Tocumen, SA, to refrain from any management related to public bidding with the Brazilian construction company Odebrecht. It will disqualify any proposal presented by Odebrecht, if it has shown interest in the contracts that the international air terminal has planned to tender in the coming weeks are materialized.


Despite the requests and recommendations made by civil society and the Administration’s own attorney general, President Juan Carlos Varela said loud and clear that the former secretary of presidential goals, Carlos Duboy, will continue as general manager of the international airport company Tocumen ,SA. “Mr. Carlos Duboy is driving the Tocumen Airport and will continue to do so,” he said. Duboy is the center of controversy for receiving a Panameista Party campaign donation in 2009 through his own company’s bank account.


Panamanian banks said that it is “inconceivable” that the European Union has included Panama in its list of tax havens after the reforms undertaken in recent years and they asked the community body to use the same criteria to measure the commitment of countries with transparency.


Three special regimes that Panama offers to companies as part of its strategy to attract foreign investment are being reviewed after an evaluation by the Organization for Economic Cooperation and Development (OECD) that considers them potentially harmful.


Panama will become, from April 2018, the first country in America to have a Regional Logistics Center for Humanitarian Assistance (CLRAH) in order to quickly support its citizens and sister nations in disaster situations. This is what is established in the law passed today by President Juan Carlos Varela during an act prior to the full session of the 50th Meeting of Heads of State and Government of the Central American Integration System (SICA) which took place in this city.


The assets of the National Banking System totaled $99,499.0 million from January to August 2017, slightly higher by 0.4% than the $99,075.6 in the same period of 2016, as extracted from a report of the National Institute of Statistics and Census (INEC) of the Comptroller’s Office. The components that contributed to maintaining the stability of banking assets were the domestic credit portfolio, which expanded by 6.9%; internal values, 4.6%; external values, 7.4%; and the other assets, which grew 21.2%, external and 16.6%, internal.


Gambling is on track to close its third year with a negative balance, but even so, the appetite for these State concessions remains on the rise and now point to the interior of the country.


The Ministry of the Environment initiated field visits to the Darien National Park to make the onsite checks of the limits of this park and annex to it approximately 80,000 hectares which were accidentally excluded when the delimitation and monumentation of the park was made in past decades.

Leave a Reply

Your email address will not be published. Required fields are marked *