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Panama Set for Tourist Boom in 2024
Panama stands on the brink of a historic achievement, poised to welcome an estimated 2.9 million international guests by year's end.
This forecast shatters previous...
Gunmen Attack Haiti National Palace, Panama Shuts Down Embassy
On April 1st, Port-au-Prince witnessed severe violence with armed attacks near the National Palace, injuring five police officers.
Gunmen also set a guard vehicle on...
Panama at a Crossroads: Credit Downgrade Shakes Market Confidence
Fitch Ratings has downgraded Panama's credit rating to BB+, removing its investment grade status due to the closure of a major copper mine last...
Panama Challenges Fitch Ratings’ Downgrade
Panama has expressed strong disagreement with Fitch Ratings' decision to lower its credit rating from BBB to BB+.
The Ministry states Fitch's review overlooks Panama's...
Key Sectors Fuel Panama’s Robust GDP Increase
Panama's economy displayed robust growth in 2023, with its Gross Domestic Product (GDP) increasing by 7.3% from the previous year, reaching a substantial $78.823...
Panama Cleared From EU’s Money Laundering List
The European Commission removed Panama from the EU's high-risk list, which identifies countries failing to combat money laundering and terrorism financing.
This decision brought hope...
Panama Canal Widens Passage Opportunities for Maritime Trade
The Panama Canal Authority declared an increase in daily passages through its Panamax locks from 24 to 27, starting late March.
This expansion aims to...
Panama Tribunal Blocks Martinelli’s 2024 Election Bid
In a new development, Panama's Electoral Tribunal barred former President Ricardo Martinelli from the 2024 elections.
The decision follows a court's verdict sentencing him for...
Shipping Costs Spike, Key Role of Panama Canal
Container shipping saw a record rise in costs, up $500 in late December. This spike occurred amid disruptions on crucial sea paths, notably the...
Pre-Trial Clampdown on Former Panama Chief Martinelli
Judge Baloísa Marquínez ordered the detention of Ricardo Martinelli, Panama's former leader from 2009 to 2014, tied to a 128-month sentence for laundering money.
This...
Panama Canal’s Revenue Up 14.9% in 2023 Despite Lower Cargo
In 2023, the Panama Canal's revenue increased by 14.9% to $4.968 billion despite handling less cargo, with only 511.1 million PC/UMS tons moved. Officials...
First Quantum Seeks $20 Billion over Panama Mine Closure
First Quantum Minerals unveiled capital restructuring plans on Wednesday to bolster its finances and slash debt, striving to meet its operational aims.
The company's market...
Nicaragua Shields Panama’s Martinelli
Nicaragua has decided to offer political asylum to Ricardo Martinelli, the former President of Panama.
This move, endorsed by Daniel Ortega's government, adheres to international...
Panama Upholds Martinelli’s Money Laundering Sentence
Panama's highest court confirmed Ricardo Martinelli's sentence of over 10 years for money laundering, tied to the "New Business" case.
The decision also includes a...