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April 1st (Anniversary) 2014 - The Dutch Girls

Posted 02/04/2024

On April 1st 2014, two Dutch hikers set out to hike the El Pianista trail located in the dense Talamanca mountain range between the provinces of Chiriquí and Bocas Del Toro.  Kris Kremers and Lisanne Froon had arrived in Panama in March of that year with the intention of learning Spanish and working a few days as volunteers with children in the area. Without imagining it, that morning, the two young women would meet their deaths in circumstances that even today 10 years later, remain unresolved. What happened? Why did they leave without a guide? Was there a criminal hand in their deaths? These are questions that resonate throughout Panama. 

Weeks before leaving for Panama, Froon had moved with Kremers to the town of Amersfoort in Utrecht and they worked together in a cafe/restaurant.  The two saved money for six months and planned to go to Central America together on a special six-week vacation, hoping to learn Spanish and do something meaningful for Latin Americans, particularly volunteering with children.  The two friends arrived in Panama on March 15th 2014. They first toured the country for two weeks before arriving in Bajo Boquete in Chiriquí province on March 29th to live with a local family for a month while volunteering with children. 

On April 1st around 11:00 in the morning, Kris and Lisanne took a taxi and headed to the place where they would begin the hike on the El Pianista trail. To this day it is not clear why they decided to take the excursion without the company of a guide, knowing that they did not know the area.  Most of us who live here, have never even considered hiring a guide.  From day one, most folks just get into their hiking gear and off they go.  It was shortly after the ‘Dutch Girls’ tragedy, as well as a few incidents of folks getting lost on Volcan Baru, that guides became in great demand for tourists. Back to our story:  The next day, April 2nd one of the tour guides who was supposed to accompany them reported that they had not arrived at the appointment and that he had not heard from them for several days. It was then that they notified the police and all the alerts went off. 

On April 6th the parents arrived in Panama along with police, canine units and detectives from the Netherlands to conduct a large-scale search in the jungle for ten days. The parents offered a $30,000 reward for any information leading to the whereabouts of Kremers and Froon.  However, it was not until two months later that the authorities found some of the young women's belongings and skeletal remains that after DNA testing showed that they belonged to one of them. "Officially" the results of the analysis confirmed that the DNA of the "left femur, the left tibia" found " was that of Lisanne Froon," announced the senior prosecutor of Chiriquí, Betzaida Pitti, who was in charge of the case. 

According to investigations, an indigenous woman found a blue backpack on the bank of a river near her town of Alto Romero, in the province of Bocas del Toro. The backpack contained two pairs of sunglasses, $83, Froon's passport, a bottle of water, Froon's camera, two bras and the women's cell phones in good condition.  The girls' phones showed that around six hours into their walk, someone dialed 112 (an international emergency number in the Netherlands) and 911. Kremers' iPhone 4 made the first attempt at a distress call to 16:39 pm and shortly after, another attempt was made from Froon's Samsung Galaxy S III at 16:51 pm.  In total, both women made 77 attempts to call 911, but only one was connected and it lasted just two seconds due to lack of reception in the area. 

Photographs taken by Kremers and Froon confirm that they reached the plateau safely and took photographs there.  Instead of returning, Kremers and Froon crossed the continental divide and entered the jungle along a path that was not part of the route. There is a hypothesis that they wanted to look at some waterfalls since they had previously searched for a map of this area on the Internet. Judging by the last photos taken on April 1st the young women were an hour from the top of the basin and continued walking.  In photographs 507 and 508, Kremers crosses a shallow stream covered with stones and stands on one of the stones, looking at the camera.  On April 8, ninety flash photos were taken between 01:00 and 04:00, apparently deep in the jungle and in almost total darkness. Some photos show that they were possibly near a river or ravine. Some show a twig with plastic bags on top of a rock; another shows what looks like a backpack strap and a mirror on another rock and another shows the back of Kremers' head. 

The disappearance of the Dutch women gave rise to countless theses and theories on social networks about the real causes that led to their death. Some pointed to a criminal organization dedicated to human trafficking and others to the alleged possibility that a serial killer or a cannibal tribe that killed the women existed in the area. These theories gained strength after other similar cases of missing people became known without their whereabouts being known. In 2009, for example, British Alex Humphrey (29) disappeared in the area. Nothing has been heard from him to date.  A month after Kris and Lisanne disappeared; American Loretta Hinman (47) also disappeared. A few days later, her rental car was found intact at her house, but there was no sign of the woman. 

A year later, in 2015, Leonardo Arturo González, the taxi driver who took the Dutch women to the El Pianista trail, was found inexplicably drowned in the waters of Los Cangilones de Gualaca, in the province of Chiriquí.  González had arrived in Gualaca to take a tour guide and three foreigners, to visit the spa. Apparently, González was waiting for the tourists, but while the guide was bathing in the waters of the Estí River, his body appeared floating in Los Cangilones, alerting some lifeguards who were there. When the paramedics tried to help him by providing cardiopulmonary resuscitation, it was too late.  González was already dead. 

Despite the fact that the official investigation of the case ended in 2015 and was not resumed, more and more new materials "surfaced” on the Internet from various parties.  In 2019, the personal diaries of both Dutch women, which they kept until the moment of their disappearance, appeared on the Internet and were translated into English from Dutch. In 2021, previously unknown photographs of Kremers' jean shorts found in the river between the first and second "Monkey Bridge" were published.  In January 2022, a podcast called “Lost in Panama” was made, published on the Apple and Spotify platform, in which various investigators who had been involved in the case for years gave new details about the events that occurred, stating that the girls were possibly murdered by a group of locals they met the night before at a local nightclub;  It is worth mentioning that 5 people related to the girls have been murdered in Panama, including people who last saw them with the group of locals they were with the night before.  A movie is in the works. The mystery continues. 

https://www.newsroompanama.com/news/april-1st-anniversary-2014-the-dutch-girls

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Presidential Debate on Tourism

Posted 01/04/2024

April 3^rd, Wednesday, the Presidential Debate on Tourism will take place at the headquarters of the Latin American Parliament, in Amador, town of Ancón, organized by the National Chamber of Tourism of Panama.  The debate, named "Sustainable Tourism, a State Obligation", aims to promote tourism as a public policy of the State.  The aim is to promote sustainable tourism and to ensure that presidential candidates are aware of the needs of the tourism sector and will provide the tourist with complete care and concern. The event is scheduled to begin at 7:30 p.m.  Complete coverage will be available through ‘Telemetro Reporta’ from 5:30 p.m. with the 8 candidates scheduled to attend including, Romulo Roux, Maribel Gordon, José Raúl Mulino, Meliton Arrocha, Gabriel Carrizo, Martin Torrijos, Ricardo Lombana, and Zulay Rodríguez.  This debate will provide an important platform to discuss the challenges and opportunities in Panama's tourism sector, as well as to present concrete proposals for its sustainable development.

https://www.newsroompanama.com/news/presidential-debate-on-tourism

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Fitch Downgrade of Panama Investment Grade

Posted 31/03/2024

Panamanian banks will have to deal with a scenario of higher interest rates, more expensive external and internal financing and be more prudent; economists say warning about the effects of the loss of Panama's investment grade.  The dean of the School of Economics at the state University of Panama, Rolando Gordón, said that in this past five-year period of the Cortizo Government “public finances have been very poorly managed,” with an increase in debt.  Waste, the mining crisis, and water shortages affected Fitch’s decision to drop Panama’s investment grade 10 key points.  The authorities “did not dare to make the necessary reforms” in the context of low tax collection, unemployment “that remains high” and a crisis in social security, said the dean.  "Now we need to see what the other rating agencies say," S&P and Moody's, which also granted investment grade to Panama in May and June 2010, respectively, although "they will most likely follow" Fitch, Gordon explained. Here is what the smart money investors are doing in Panama. It is not the time to bail. It is time to buy low and later sell high.  Investing in Panama for the long term is where it's at, because we all know that Panama is strong, has the canal and the world renowned banking system.  

Panama lost its investment grade on Thursday, March 28^th after being downgraded by the rating agency Fitch by placing the debt at BB+. The government that comes out of the polls on May 5^th "is going to have a lot of economic difficulty to deal with and has to get to work quickly before losing the public's trust," said Gordon, who agrees with other economists that among the effects of the loss of investment grade are the increase in the cost of money for the country and a fall in foreign investment.  Panamanian banks will surely “be very cautious because (interest rates) are already high. And Panama banks are in great shape so they do not want to suddenly kill the goose that lays the golden eggs” with more increases that will affect credit, he added.  Economist Felipe Chapman explained that the next government will have to make difficult and unpopular decisions very early to amend the path.  “The country urgently needs austerity decisions, great fiscal discipline, which means being much more efficient in tax collection,” as well as reviewing subsidies and spending, he concluded. 

Fitch pointed out in its report that it “expects that the majority of the probable winners” of the general elections on May 5^th “will make some efforts to address” the fiscal challenges, although it clarifies that an expected slowdown in growth, a tense social context and the fragmentation of parties can limit “the margin for assertive action.”  The decision by the Fitch rating agency to downgrade Panama's debt to BB+, which means the loss of investment grade, did not surprise the market, nor did it surprise the economists who had been warning of this danger and who are again asking, this time to the Government that will take office next July, will and commitment to fiscal discipline.  In a recent report, Fitch downgraded Panama's rating to BB+ from BBB- and gave it a stable outlook, the latter given the country's "solid medium-term growth prospects" focused "on logistics activities and Panama's strategic asset." the interoceanic Canal. 

Just as Fitch was the first agency to grant investment grade to Panama, which occurred in March 2010 thanks to the positive trend in credit metrics since 2005, as it argued then, it has now also been the first to remove it, citing the “fiscal and governance challenges” aggravated by the social context that led to the closure of a large copper mine.  Panamanian economist and Professor Felipe Argote assured everyone that Fitch's decision “is no surprise,” because a few weeks ago the Government created some very large Government bonds.  “What that tells you is that the market has already decided that Panama does not have investment grade. What the rating agency is doing is simply confirming what the market has already decided,” added the expert economist and businessman.

https://www.newsroompanama.com/news/fitch-downgrade-of-panama-investment-grade-1

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More Than $31,000 is Seized

Posted 31/03/2024

More than 31 thousand dollars in cash was seized, and a woman arrested, in a residence in the Los Cántaros neighborhood of Panama City.  According to the National Police, the amount seized was $31,892.50 and its origin could not be justified. The woman was arrested for her alleged connection with the crime of money laundering.  In this raid and search of a residence, carried out between the Public Ministry and the National Police, three cell phones were also confiscated.  The apprehended woman, along with the evidence, will be placed under the orders of the corresponding authorities. Investigations into this case continue. 

https://www.newsroompanama.com/news/more-than-31000-is-seized

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Darien Jungle Crises is Worsening

 Posted 31/03/2024

This has become a political football, not only in Panama but the US as well with elections coming up in both countries.  Panama takes migrants from the Darien on their way to the land of Milk and Honey (USA), puts them on buses to Costa Rica on their way through Central America towards Mexico.  Mexico now has put a budget in place to hire busses and drivers to return the migrants to Panama.  At the close of the first quarter of 2024, an unprecedented humanitarian drama has marked the jungle region known as the Darién Gap, with a 24% increase in the migratory flow compared to the same period in 2023.  This natural corridor between Colombia and Panama has become a monumental challenge for those seeking a better life, facing extreme dangers and inhuman conditions on their journey.  Reports from the National Immigration Service specify that with a figure that amounts to 108,167 people between January and March, this caravan of walkers has experienced a significant increase compared to the same period of the previous year, when the figure stood at 87,390 individuals.

https://www.newsroompanama.com/news/darien-jungle-crises-is-worsening

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Presidential Elections May 5th

Posted 30/03/2024

Panama, West Panama and Chiriqui, are the key provinces to be watching on May 5th during the Presidential elections.  According to the data collected from the final electoral patterns, these three regions host approximately 60% of the 3,004,083 Panamanians eligible to vote.  A detailed analysis reveals that the province of Panama leads in terms of voter count, representing an impressive 34.05% of the national total. In the city an overwhelming number of 1,022,911 citizens are empowered to participate in the electoral process, with an equal distribution between genders, where 530,042 are women and 492,869 are men.  In addition, there is a diversity in political affiliation, with 505,453 affiliated and 517,458 unaffiliated.  It is important to note that 6 of the 10 polling centers with the highest number of voters are located in the corrections of San Francisco, Don Bosco, Tocumen, 24 de Decembre and Pedregal. 

 

Western Panama, on the other hand, emerges as a rapidly growing province, hosting 14.22% of the national electorate.  With 427,317 citizens qualified to vote, this region exhibits remarkable gender parity, with 217,018 women and 210,299 men registered as voters.  Also, 2 of the 10 polling stations with highest turnout are located in this province

In the case of Chiriquí, the third province with the largest number of voters, significant participation in the electoral process is evident with a total of 373,109 citizens entitled to vote, representing 12.42% of the national electorate.  The provinces of Panama, West Panama and Chiriqui will be fundamental in Panama's electoral landscape for the elections May 5th due to the large proportion of eligible citizens and voters living there.

 

The third official debate of the 2024 presidential electoral process happens on April 17th at the Anayansi Theater of the Atlapa Convention Center, an event organized by the Chamber of Commerce, Industries and Agriculture of Panama, and the Electoral Tribunal (TE), with the production of Corporación Medcom.  It will focus on 4 themes:

Employment and entrepreneurship

Water and sustainability

Institutionality

Social development

https://www.newsroompanama.com/news/presidential-elections-may-5th

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High Temperatures and Fires

Posted 30/03/2024

Caution: A surveillance notice about the spread of fires and high temperatures has been issued in the last 24 hours. NASA's satellite fire monitoring system has shown abundant hot spots in large fire zones in the Pacific sector and the Caribbean, which has put the country's authorities on alert. That is why the Institute of Meteorology and Hydrology of Panama (IMHPA) issued a surveillance notice for the generation and spread of fires that came into effect as of Friday, March 29 and will extend until Tuesday, April 2.

 

The current atmospheric conditions generated by winds, dry soil, high temperatures, solar radiation, low humidity in the air and other factors provide a favorable environment for greater spread and generation of fires, whether of plant mass or structures, quickly. Likewise, throughout the weekend, winds with sustained speeds are expected that could reach maximum speeds of 60 km/h. In the mountainous sectors, wind gusts will be 65 km/h or more. It is important that drivers and the general population take caution due to possible falling trees and loosening of poorly installed or damaged objects.

https://www.newsroompanama.com/news/high-temperatures-and-fires

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Panama Government Disagrees with Fitch

Posted 29/03/2024

The Panama Government disagrees with the Fitch Ratings.  This reduction 'does not reflect a correct evaluation of the macroeconomic and social situation of Panama'. According to the Government, the country's economic fundamentals remain solid. The government reaction comes after Thursday morning, when Fitch Ratings lowered Panama's rating and removed the country's investment grade.  The official communication highlighted that the rating agency's report stated that the closure of the mine was an important factor in the decision made.  “The closure of the mine will significantly affect growth this year, given that it represents around 5% of GDP (through direct and indirect effects) and 7% of current external income,” Fitch Ratings indicated.

The rating agency also downgraded the country's long-term foreign currency issuer default rating to “BB+” from “BBB-,” with a “stable” outlook.  For the Government, this reduction "does not reflect a correct evaluation of the macroeconomic and social situation of Panama" and also gives greater relevance to the closure of the copper mine and the political situation in the country.  According to the Panamanian government, the country's economic fundamentals, which support the credit rating, remain solid, with robust economic growth, low inflation, a reduction in the level of unemployment and compliance with fiscal goals. 

“Our economy grew by 7.3% in 2023 and we have complied with the decreasing fiscal limits, established in the Fiscal Social Responsibility Law since 2020.”  A point that the Panamanian government highlighted is that the rating agency's report stated that "Panama's performance is better than expected in recent years and suggests an increase."  “The Republic of Panama deplores the unusual timing chosen by Fitch Ratings to issue this report.  It is striking that the rating agency has made this decision to lower Panama's rating, just 38 days before the general elections on May 5. This is contrary to the position usually adopted by risk rating agencies during electoral periods”.

https://www.newsroompanama.com/news/panama-government-disagrees-with-fitch

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Marta Linares de Martinelli Complaint About Rómulo Roux

Posted 29/03/2024

The National Directorate of Electoral Organization of the Electoral Tribunal (TE) released a resolution on March 28^th where they admitted a complaint against the Democratic Change party and its presidential candidate Rómulo Roux, for the non-use authorized the personal image of Marta Linares de Martinelli in electoral propaganda.  In the complaint, the former first lady's legal team alleges that her personal image was used without her authorization in a political advertisement scheduled for March 27^th 2024, at the time the presidential agricultural debate was broadcast in the media.  In addition to the image of Mrs. Linares de Martinelli, the reported propaganda also uses images and the voice of former President Ricardo Martinelli in a walk taken during the 2019 electoral campaign when he was a candidate for Mayor of the Capital District.

This propaganda, Alma Cortés points out in her argument, has "the clear and intentional objective of confusing the electorate, to make them believe that both her client and Mr. Ricardo Martinelli sympathize and support the candidate Rómulo Roux, which constitutes a negative campaign to the detriment of presidential candidate José Raúl Mulino ".  The Electoral Court indicated that the complaint presented by Alma Cortés, lawyer for Mrs. Marta Linares de Martinelli, could qualify within the prohibitions to which electoral propaganda is subject, since it meets the minimum admission requirements.  Therefore, the highest electoral body decided to admit the complaint against the Cambio Democrático party and Mr. Rómulo Roux for the unauthorized use of personal images in electoral propaganda and demanded a digital copy of the denounced electoral propaganda, a copy of the sales invoice for the propaganda, along with the sworn statement of the person responsible.

https://www.newsroompanama.com/news/marta-linares-de-martinelli-complaint-about-romulo-roux

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Tourist Visa from the US Embassy

 Posted 29/03/2024

Great news for those wanting to enter the US on a tourist visa!  The United States Embassy will make your appointment for a tourist visa. The United States Embassy in Panama just announced greater flexibility in scheduling appointments for tourist visas. The U.S. Embassy in Panama has taken a significant step toward greater accessibility by announcing the opening of new interview appointments for tourist visas every Wednesday. This initiative seeks to provide applicants with the opportunity to advance their appointments in a more convenient and efficient manner. According to the statement issued by the Embassy, the Consular Section will open new interview appointments for tourist visas every Wednesday. This measure will allow applicants to access a more dynamic appointment scheduling system, making it easier for them to reschedule their appointments based on their availability and needs. To take advantage of this new opportunity, interested parties must follow some simple steps:

Visit the Website or Call by Phone: Applicants can access the website http://ustraveldocs.com or call +507 833-9393 to begin the process. Login to your Personal Profile: Once on the website, applicants must log in to their profile using their email and password. Reschedule Appointment: Once inside their profile, applicants must click on the "Reschedule Appointment" option to select a new date that fits their schedule and preferences. This new measure represents a significant advance in the process of applying for tourist visas to the United States from Panama. By offering the ability to schedule interview appointments more frequently and flexibly, the Embassy seeks to streamline the process and better serve applicants, while ensuring compliance with relevant safety protocols and regulations. The opening of new tourist visa interview appointments each Wednesday by the U.S. Embassy in Panama reflects its ongoing commitment to improving the applicant experience and facilitating access to consular services. This measure will benefit those who wish to travel to the United States for tourism purposes, allowing them to schedule their appointments more conveniently and efficiently.

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Zulay Rodríguez Defends November Panama Road Closures

Posted 28/03/2024

Zulay Rodríguez at a recent Presidential debate with other candidates, was asked how she would have resolved the closure of roads, as occurred in October and November 2023, amid protests over the contract agreed between the Panamanian State and Minera Panamá, SA.  On that occasion as you all will remember, the province of Chiriquí was cut off due to protests against the contract for the Donoso mine, Colón. The Chamber of Commerce, Industries and Agriculture of Panama estimated that the street closures, following the approval of the mining contract between the State and Minera Panamá, caused losses of between $60 million and $90 million each day. 

Despite the million-dollar losses, Rodríguez defended the closures and said that they would not have reached such magnitude if the Cortizo government had stood up in front of the people and told the truth to begin with. “Everything that happened is regrettable, but there was a greater good, which was to fight against this disastrous mining company… Here, unfortunately, the government did not show its face because if it had shown its face to the public in a proper time frame, this would not have happened,” Rodríguez said. “They needed to go personally to talk to the protesters, but they did not.”

https://www.newsroompanama.com/news/zulay-rodriguez-defends-november-panama-road-closures-1

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$630 Million in Treasury Notes Cancel Panama Bank Debts

Posted 28/03/2024

 

Panama’s Cabinet authorized the issuance of Treasury notes for $630 million to cancel the debt held by Panama's banks.  The resources will be paid through public debt securities to cancel debts for preferential interest granted by banks on mortgage loans and for tax incentives for restorations in the Old Town, reported President Laurentino Cortizo.  The banks will again receive public debt securities as part of the payment for the section of preferential interest granted on mortgage loans, as well as for tax incentives for restorations in the Old Town. 

In total, the banks will receive $651.5 million in these financial instruments, as reported by the President of the Republic, Laurentino Cortizo Cohen, on the social network X.  “I announced to bank representatives that the State debt of $651.5 million for preferential interest, and preferential interest for Restoration of the Old Town, will be canceled through Treasury Notes and via budget, without affecting the 2024 fiscal deficit,” the national leader said.  Later, the Presidency of the Republic reported that the Cabinet Council authorized the issuance of Treasury notes for an amount of up to $630 million for the payment of obligations derived from the preferential interest regime.  The Minister of Economy, Héctor Alexander, highlighted that with this operation, President Cortizo's administration leaves the debt with the banks "cleansed" in terms of preferential interest.  He recalled that when the president began his administration in 2019, he canceled the entire debt with the banks for more than $400 million. 

The funds collected in these issues of Treasury Notes will be for the payment of all tax credits validated by the Tax Incentives section of the General Directorate of Revenue as of January 31, 2024, to mortgage creditors with debts greater than B/.5.2 million of preferential interest derived from mortgage loans.  Part of the resources issued in securities will also be to recognize tax incentives for restorations in the Old Town of credit applications validated as of January 31, 2024.  This is not the first time that they have paid off the debt for the preferential interest tranches through securities.  In December 2023, the Government paid $208 million to the banks with treasury notes that were traded through an issue on the Latin American Stock Exchange Latinex.

https://www.newsroompanama.com/news/630-million-in-treasury-notes-cancel-panama-bank-debts

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6 Presidential Candidates in Volcan

 Posted 28/03/2024

Electoral promises were made to revitalize agriculture in Panama’s ‘bread basket’ as six of the eight presidential candidates participated in the agricultural debate that took place in Volcán, Tierras Altas, Chiriquí.  The presidential candidates faced each other in the agricultural debate, a meeting where the candidates for the Las Garzas palace promised what the sector wanted to hear. Very little clash of opinions and good answers were presented for some long and technical questions.

The candidates spoke about the mechanisms to implement the new Law 352 that dictates the State Agri-Food Policy, they promised to depoliticize the entities linked to the sector, they committed to reducing imports , they considered their recipes to achieve food security, proposed renegotiating the Trade Promotion Agreement (TPC) with the United States (EU), and promised to strengthen agriculture with technology and technical support to achieve competitiveness.  Phrases like “from day one”, “depoliticize”, “support the producer”, and “fight corruption”, were heard several times.

Melitón Arrocha, candidate for the free nomination and the Social Independent Alternative Party, was the first to take to the microphone. He recalled that the food sector represents 2% of the GDP and 14% of employment in Panama. Like Rómulo Roux, the candidate of the alliance between Cambio Democrático and the Panameñista Party; and Zulay Rodríguez, of the free nomination; they promised to align all institutions in the sector with Law 352.  Roux was more specific and he talked about updating the legal framework of these entities while Rodríguez is committed to aligning 350 offices in the sector. 

Arrocha spoke of taking the Ministry of Agricultural Development to the countryside, Roux promised to appoint a minister of the sector who is “on the street.”  José Gabriel Gaby Carrizo the presidential candidate of the Democratic Revolutionary Party (PRD), who also serves as vice president of the Republic, attacked Martín Torrijos the candidate of the Popular Party.  He of course, praised “the courage” of the current president Laurentino Cortizo, who resigned from a government that was “betraying” the agricultural sector by eliminating support from the Special Interest Compensation Fund (FECI).  Cortizo was Minister of Agricultural Development in the Torrijos government (2004-2009), and resigned in January 2006 due to disagreements in the TPC negotiations with the US.  Torrijos, hit back. He mentioned to Gaby that he is confusing a European country with figures from Panama, in reference to an episode of the first presidential debate (February 26th), when the PRD candidate equated Panama's security with that of France and Panama. 

The PP standard-bearer, on several occasions promised to transform agriculture so that it is “productive and profitable.” “The transformation of the country requires that agriculture be successful,” he said and immediately blamed the last three governments for neglecting the sector. Ricardo Lombana, the presidential candidate of the Otro Camino Movement, promised that in the first 100 days of his government, he will elevate food sovereignty to constitutional status.  He promised to allocate resources to the sector and take politics out of the institutions.  “How is it possible that we are in a country in which presidential candidates have to be asked what measures we are going to take to ensure that the current law is complied with?” said the candidate in reference to the first question: What will he do to adapt the legal framework of Law 352 to the agricultural sector?

https://www.newsroompanama.com/news/6-presidential-candidates-in-volcan

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Easter Politics in Panama

 Posted 27/03/2024

Martín Torrijos denounced José Gabriel Carrizo for a publication in X where he linked him to millions from Odebrecht. One day they were co-partisans, today they are not only political adversaries, but they also fight a duel in the electoral instances. The president and vice-president are elected on a single ballot for a five-year term by direct popular vote. Presidents are not allowed to immediately run for re-election, but can run again after waiting five years.

The Attorney General of the Nation, Javier Caraballo, sent his opinion to the Supreme Court of Justice related to the claim of unconstitutionality regarding the presidential candidacy of José Raúl Mulino as standard bearer of the Realando Meta y Alianza groups.  Attorney Caraballo confirmed that his opinion is that Mulino's candidacy is not unconstitutional. The attorney indicated that he sent a lengthy 45-page opinion.

Political scientist José Stoute is speculating that José Raúl Mulino has a formal pact with former President Ricardo Martinelli, which is that, if he wins the Presidency on May 5th he will bring to the Assembly a project to achieve an amnesty for the former President, Ricardo Martinelli.  The Panama Executive Branch includes a president and one vice-president. 

Holy Week 2024: Cortizo signs the decree ordering the closure of public offices. The closure of public, national and municipal offices throughout the country is ordered on Thursday, March 28th at 12:00 noon, on the occasion of Holy Week. Holy Week in Panama transcends beyond being a religious celebration; It is a moment deeply rooted in the culture and traditions of the people. Throughout the country, Holy Week  is fervently honored by millions of Panamanians, who engage in various activities that honor the passion, death and resurrection of Jesus Christ.  The mayor's office has announced that alcohol sales will be prohibited both Thursday and Friday. 

https://www.newsroompanama.com/news/easter-politics-in-panama

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Tocumen International Airport for Easter

Posted 27/03/2024

The Tocumen International Airport expects to take care of more than 66 thousand passengers during this Easter season, including international, national and resident travelers. It is estimated that the greatest flow of passengers will occur between March 27^th and 31^st.  The number of passengers leaving the country was over 34,000 persons, while it is expected that Panama will bring in 31,741 travelers.

https://www.newsroompanama.com/news/tocumen-international-airport-for-easter

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Banking Scams

 Posted 27/03/2024

Panama banks are becoming aware of clients who lend or rent their bank accounts out to criminals with the promise of receiving a percentage of what is received.  People who get involved in these crimes of aggravated fraud and extortion can receive prison sentences of five to 10 years.  Monday, March 25^th the National Police and the Public Ministry carried out operations to arrest more than 70 people involved in these crimes. The raids took place in the provinces of Colón, Chiriquí, Panamá Oeste and Panamá City. The “prestacuentas” scam modality goes beyond the money that criminals can offer as bait.  One of the benefits they offer is a percentage of what is received, but whoever lends or rents their bank account does not know exactly where the money comes from. That is why the owners of these accounts may be unknowingly involved in cases of fraud or money laundering crimes, the police announced this Monday.

https://www.newsroompanama.com/news/banking-scams

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New Cruise Terminal in Amador

 Posted 26/03/2024

The new Cruise Terminal in Amador was inaugurated Tuesday with an investment of $206 million.  The Panama terminal is equipped with the highest tourist and customs standards to provide visitors with a comfortable and safe experience. This megaproject contributes to perfecting Panama's positioning as the country with the best maritime and air connectivity in Latin America and the Caribbean, which constitutes an insurmountable competitive advantage in favor of the economic and human development of our country.  The new cruise port, strategically located at the entrance to the Panama Canal, operates under the concept of “home port”; That is, a base port increasing the competitive advantages of Panama as the “hub of hubs” of the Americas.  This 88-hectare work is an integral part of the Amador Development Plan, created to boost the economy by taking advantage of the strategic geographical location of Panama along with the natural beauty of our country.

https://www.newsroompanama.com/news/new-cruise-terminal-in-amador

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Easter Thursday and Good Friday in Alanje

 Posted 26/03/2024

DAVID, CHIRIQUÍ: More than 100,000 people are expected to arrive at a pilgrimage at the Santo Cristo de Alanje Sanctuary for Easter.  The authorities in the municipalities of Bugaba and especially Alanje, where the largest pilgrimage of people to the National Sanctuary of Santo Cristo de Alanje takes place, stated that they will be strict in complying with the regulations for no sales of alcoholic beverages, the closure of bars and canteens and other provisions that are in place for these days of Holy Week, Thursday and Good Friday.

"We have a decree for the fifth consecutive year here in our district, where we regulate all issues that have to do with the sale of alcoholic beverages, dance activities, ties, music, canteens, restaurants, supermarkets regulate everything that is the distribution and sale of alcoholic beverages in the next few days, Thursday and Good Friday,” said  Rafael Quintero, Municipality of Bugaba. 

It is in these two districts, like David, where the largest pilgrimage of citizens takes place to the Diocesan Sanctuary of Alanje, where the congregation of about 100 thousand people is expected during the days of Holy Week.  "Practically we are already prepared with the security forces, we have already made all the coordination with the National Police, the Ministry of Health regarding first aid, civil protection, the Red Cross, the firefighters, we have already coordinated,"  said  Mary Sánchez, Municipality of Alanje.  

Security agencies stated that more than 300 units will be vigilant to prevent accidents both on the pilgrimage route to the Alanje district and in other points of Chiriquí. Most of these fun activities that take place in these communities, whether cockpits, dances, or the sale of alcoholic beverages, are closed from Wednesday to Sunday, according to the provisions of each of these mayoral decrees.

https://www.newsroompanama.com/news/easter-thursday-and-good-friday-in-alanje

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Caja de Ahorros Bank Worker Arrested

Posted 26/03/2024

A bank worker and former public servant, was arrested by the Anti-Corruption Prosecutor's Office with support from the National Police.   The apprehended woman worked at a National Bank here in Panama known as Caja de Ahorros and whose job description was that of Payment Methods Manager.  There was alleged involvement in crimes against the public administration, such as financial crimes including embezzlement and crimes against the economic order.   According to what we know, this arrest was carried out through a search of a residence located in the district of Río Abajo.  Computer type equipment and documents were also seized on site.  According to investigators, the former official of Caja de Ahorros, used her position to create a financial loss to the bank through credit cards for the sum of $16,306.94.  The woman was placed under orders of the Public Ministry for corrective measures.

https://www.newsroompanama.com/news/caja-de-ahorros-bank-worker-arrested

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Panamanian TV Chef gets Married in Boquete

Posted 25/03/2024

Panamanian chef and TV presenter Argimiro Armuelles and his girlfriend Kira got married this weekend in Alto Boquete, Chiriquí.  In an intimate ceremony, between family and close friends, they said “yes” after almost four years into their relationship.  "And the great day has arrived surrounded by lots of nature, family and good energy.  We are starting a new stage!” Argimiro wrote on his social networks along with a photo gallery.  Argimiro and Kira got engaged in September 2023.   This is the fellow who is usually reserved with his private life, but who shared the news last year and said that the “cupid” at that time had been his little dog Max, a mini bull terrier.  The couple chose to appear with Max who was posing in their wedding photos.

The bride wore a dress made by Panamanian designer Tony Vergara, recognized for his work inspired by Panamanian flora and fauna. The designer shared on his social networks part of the process of making the exclusive custom-made mermaid dress with balloon sleeves. Tony even traveled to the highlands to deliver the suit and accessories (also created by him) to the bride. “I designed an exclusive wedding dress adorned with field flowers, for a unique bride,” Tony wrote in a post on his Instagram account. “She visited my studio with the desire to wear a nature-inspired bridal outfit that reflected her free spirit, classic and bohemian nature; perfect for her country house wedding”.

https://www.newsroompanama.com/news/panamanian-tv-chef-gets-married-in-boquete-1

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The Solid Performance of Panama Banks

 Posted 25/03/2024

The risk rating agency Moody's said this past Monday that it maintains the stable outlook for Panama's banking system (Baa3) given the forecast that "the solid performance" of the banks will offset their prediction of a sharp slowdown in the country's economic growth in 2024.  The strong history of the Panamanian bank, which has solid capital and a low appetite for risk, will also counteract the effect of the political noise prior to the presidential elections on May 5th as well as the possible weakening of consumer confidence in companies, indicated in the rating agency's report.

The economic slowdown, evidenced by growth estimated at 2.5% for this year compared to 7.3% in 2023, will affect the recovery of portfolio quality, but banks' lower appetite for risk and strong Capitalization will help contain risks, according to Moody's. The rating firm anticipates that Panamanian banking interest income may fall due to the low business volume expected for the next 12 months, and high rates will keep financing costs high, which may harm the system's profits.  Adjustments to provisions for credit losses in a weakened economy will also affect the final results in 2024 of Panamanian banks, whose profits grew by 42.6% in 2023, compared to the previous year, according to data from the Superintendency of Banks of Panama (SBP) published by the local press.

https://www.newsroompanama.com/news/the-solid-performance-of-panama-banks

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Part 5 “The Panama Canal is Doing Much Better”

 Posted 25/03/2024

Part 5 The final piece on “The Panama Canal is Doing Much Better” Why didn’t the Panama Canal lose money when ship crossings fell?  A water shortage forced officials to reduce traffic, but higher fees increased revenue. 

We are continuing our talk about the Dry Canal today, the trucks and train and getting the containers from one side of the country to the other to ease the wet canal shipping problems of late…….“The expansion of the primary areas will be complemented by the digitalization of processes and the extension of schedules at ports and customs so that the transshipment operation is easy and agile.”  For the representatives of COEL, it is essential to follow up on this proposal so that when the new government that will be elected on May 5^th enters, the progress made in terms of streamlining the transshipment of merchandise is not regressed again.  Between January and February, transshipment activity in the ports grew 19.5% to add 1.33 million TEUs (20-foot containers) against the 1.11 million TEUs registered in the same period of 2022.  In 2023, the number of containers being transshipped in Panamanian ports closed with a drop of -3.2%, to total 7.32 million TEUs moved.  Taking into account all types of operations, Panamanian ports moved a total of 8.31 million TEU last year, which represented a decrease of -2.4%, or the equivalent of 202,129 fewer units, compared to the previous year, when reached the figure of more than 8.51 million TEU in 2022.

The construction of the reservoir on the Indio River is the most efficient solution for the Panama Canal, the administrator of the interoceanic waterway, Richard Vásquez says.  He maintained that, for more than 17 years, the Panama Canal Authority (ACP) has worked with the communities in that area and understands that a reservoir there has social and economic challenges.  Vásquez explained that to guarantee sufficient water for the operation of the Canal, one cannot depend on rain. The long-term solution is to define the Canal's hydrographic basin and build reservoirs.  “We have alternatives and we will continue to postulate that the Indio River is the most efficient, fastest and least complex option from an engineering point of view, but like any other solution, it has socioeconomic and political complexities,” Vásquez remarked.

Maritime Chamber: The management of water resources for the Canal and the population is urgent.  The union presented the Country Maritime Vision 2024-2029 that will be delivered to the presidential candidates, in which they propose proposals to maintain and improve the competitiveness of the sector that contributes $21,210 million to the economy and nearly 110 thousand direct and 320 thousand indirect jobs.  Panama's maritime and logistics industry runs the risk of being perceived as inefficient and expensive, which endangers the hub's competitiveness.  Much of this perception is due to recent events such as the water crisis that has forced the restriction and reduction of the number of transits in the Panama Canal, a situation that has changed the configuration of the routes of many shipping companies.

This is stated by spokespersons from the maritime sector who presented a proposal to recover the competitiveness of the sector, update legislation, modernize activities with digital transformation and raise the challenges of the industry that must be addressed together with the next Government, so the document will be delivered to the presidential candidates.  “A firm political will is needed for solid and consistent management, capable of facing socio-political ups and downs and achieving concrete and lasting results. We must collectively aspire to become a first world country. This is not a criticism of what we have been, but rather a call to be even more ambitious in our search for excellence as a relevant nation in international trade,” said Yira Poyser, president of the Maritime Chamber of Panama.

Given the water crisis that the country is experiencing due to the prolonged period of drought and the impact of the El Niño phenomenon, Yira Poyser said that they support the solutions presented by the Panama Canal, such as building a reservoir on the Indio River, but admits that it has been lacking. political will to proceed as soon as possible.  “At this point we should be in permanent session to look at this issue of the Canal water crisis,” he said.  In the document Maritime Country Vision , the union proposes that the bill that establishes the limits of the Canal's hydrographic basin that includes the Indio River be approved.  In addition, it proposes that actions be institutionally coordinated to quickly develop the multipurpose reservoir project in the Indio River basin.  In the infrastructure part, the Maritime Chamber proposes that it is necessary to define the construction of water treatment plants for the metropolitan area that are fed by the Bayano reservoir to reduce the pressure in the Chilibre plant (Federico Guardia).  The need to implement a program to reduce water loss by repairing leaks in the distribution network is emphasized.

Another proposal is the alternative of installing desalination plants as an option to supply nearby communities. “This measure is proposed to prevent the depletion of existing reservoirs.”  Juan Carlos Croston, former president of the union, maintained that the impact of the reduction in transits in the Canal has harmed the auxiliary maritime industry since there are fewer ships that pass through the interoceanic waterway, which means less provision of fuel to supply, less food, as well as a reduction in the services and others that these companies provide.  While the other side of the coin is that transshipment and the activities of some ports have been energized, given the decision of some shipping companies to unload containers to send them overland by road or rail between one port and another.  What in his opinion is a short-term solution but is not permanent, since maritime transport is more competitive both in time and cost.  “Although Panama is providing solutions to customers with land transshipment of cargo, long-term solutions must be sought,” Croston insisted, pointing out that measures are urgently needed to address the water crisis both for the provision of water for the Canal and for the population in general.

Spokespeople for the maritime industry indicated that since this is an election year in Panama, it is crucial that the next government places the sector among its priorities.  Croston stressed that it is a conglomerate that contributes 31% of the country's gross domestic product, with an equivalent of 21,210 million dollars, a generation of 109,406 direct jobs that represent 30% of the country's formal jobs and an impact of more than 320,317 indirect salaried jobs in general.  It admits that foreign trade is being affected by the climate crisis, deglobalization, limited capital flow, geopolitical changes, currency devaluation and other factors.  herefore, he considers that Panama must be on par with other countries like Singapore and not be left behind, which is why it is necessary to have a medium and long-term strategic vision that allows the country to be elevated to first world status.

Hence, they propose the Maritime Vision 2024-2029 with six pillars of action to be implemented by the next government. Strengthening the regulatory framework; promotion of inter-institutional and union coordination; incorporation of digitalization and technology; optimization of infrastructure and connectivity; management of socio-environmental impact and promoting education.  “Given the strategic relevance of the Canal, which affects both the economy and human well-being, it is a central element in the Country Maritime Vision 2024-2029. It is not possible to think about the development of the maritime sector without addressing the strategic issues for the Canal that ensures its operational continuity, sustainability and competitiveness,” indicates the document presented by the Maritime Chamber.

https://www.newsroompanama.com/news/part-5-the-panama-canal-is-doing-much-better

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The Darien Gap, Migrants, and US Politicians

Posted 25/03/2024

The Darien Gap: The United States, like Panama, will elect a president this year. US politicians as well as Panamanian politicians are using the migration crisis issue in their political campaigns. In both countries, this issue could be decisive in their respective electoral processes.  Immigration is fueling US economic growth while politicians rage. While the rising number of immigrants in the US has sowed division among politicians across the country, and stoked angst among a swath of voters, there’s one place where almost everyone seems on the same, upbeat, page: Wall Street.  Last month, the nonpartisan Congressional Budget Office (CBO) calculated that immigration will generate a $7 trillion boost to gross domestic product over the next decade. The agency came to that conclusion after incorporating the recent surge in immigration. 

The CBO release spurred a flurry of fresh number-crunching among investment bank economists, to account for the boost those new comers are giving to the labor force and consumer spending.  Goldman Sachs Group Inc. revised up its near-term economic growth forecasts Sunday.  JPMorgan Chase & Co. and BNP Paribas SA were among banks that acknowledged the economic impact from surging immigration in recent weeks.  “Immigration is not just a highly charged social and political issue, it is also a big macroeconomic one,” Janet Henry, global chief economist at HSBC Holdings, wrote in a note to clients. No advanced economy is benefiting from immigration quite like the US, and “the impact of migration has been an important part of the US growth story over the past two years.” 

Migrant encounters at the Mexico–U.S. border began to surge in late 2020, reaching a record number of 1.73 million migrant encounters in fiscal year 2021, 2.76 million in fiscal 2022, and more than 2.8 million in fiscal 2023.  People immigrate to the US to work, reunite with family, study, or seek personal safety.  The US government generally allows legal immigration for five broad reasons: work, school, family, safety, and encouraging diversity.  People immigrating for work or school are often granted temporary entry rather than permanent residency.  Immigration for family generally means the immigrant has a relative who is already in the US as a citizen, green card holder, or temporary visa holder with whom they want to be reunited with.  Those who immigrate for safety are refugees or asylum-seekers.  And finally, up to 50,000 immigrants obtain green cards annually through the Diversity Immigrant Visa Program lottery that grants entry to individuals from countries with low rates of immigration to the US.  Canada offers similar programs. 

https://www.newsroompanama.com/news/the-darien-gap-migrants-and-us-politicians

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Your Morning Coffee

Posted 24/03/2024

Coffee is considered an energizing drink by some people. However, it is more of a stimulating drink, according to expert coffee growers and even scientists, who are dedicated to studying the properties of this grain on human health.  Even so, it is important to highlight what effects pure coffee can have on the body and what coffee with milk causes.  It is common for people to consume this drink in every corner of the world.  Just as tea is traditional in some sectors of society, coffee also represents a drink full of benefits, as long as it is consumed appropriately.  

Among the multiple formulas and recipes in which coffee is consumed, to get the most out of its benefits, elements such as milk, ice, sugar, water temperature, type of grinding and brand, must be taken into account to experience a truly exquisite drink.  Healthline, a portal specialized for health, determined that coffee manages to sharpen concentration and increases the level of energy, because it is a natural and healthy stimulant, even becoming essential for some people for their morning activities.  But for researchers at Harvard University, there are many more virtues of this drink, which, like tea, is healthy for consumption.  Coffee contains antioxidants and flavonoids, natural compounds that are necessary to eliminate free radicals and protect heart health, simultaneously strengthening the immune system.  This is true as long as you are consuming a truly good coffee, since not all commercial coffees are of high quality.   

A bad coffee might involve the improper grinding of a bean.  Being too roasted, has negative effects on the health of the consumer because the person would be ingesting coffee with carbon elements, which if consumed constantly can cause cancer in the long term.  This was determined by Santiago Patiño, an expert coffee grower from Antioquia in Colombia.  “Good, high-quality coffee should literally be brown.  The water should be 90° hot, not boiled because that burns the coffee.  If the coffee you are consuming turns black when served, this means that it is a bad bean, over-roasted and that you would be about to ingest something similar to a piece of charcoal with a coffee flavor.   There could be carcinogenic damage instead of the beneficial properties of coffee.” Santiago points out.  Additionally, scientists consider that coffee consumption, like everything else, should be moderate, since it could go from consuming beneficial properties to putting health at risk.  Regarding the consumption of coffee with milk, nutritionists mention that doing so somewhat calms the effect of caffeine on the system and that dairy enhances the supply of calcium, strengthening the bone system, the functioning of the muscles and even blood circulation.  The important thing is to do it in moderation and with a good coffee.

https://www.newsroompanama.com/health/your-morning-coffee

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World Bank Approves a $350 Million Dollar Loan for Panama

 Posted 24/03/2024

The World Bank executive board has approved a new loan for Panama for $350 million dollars as of this past Friday March 22^nd. The financing is for programs focused on reducing emissions and improving resilience to climate change.  The financing is part of the development policy program (DPP) on Climate Resilience and Green Growth and will support the country in reforms aimed at decarbonizing the transportation and energy sectors, the multilateral organization indicated in a statement.  Likewise, part of the resources will be allocated to programs that seek to generate the capacities required in the task of adaptation and mitigation of the effects of climate change. 

The World Bank detailed that this $350 million dollar project will support the reforms established on two levels:  The first level focuses on promoting a clean energy transition, low-carbon and socially inclusive growth, and technological innovations for disaster preparedness.  “In accordance with this component, Panama will continue to strengthen the regulatory and regulatory frameworks that were created to reduce emissions from the energy and transportation sectors.  This level supports political reforms aimed at rural electrification through renewable energies and digital connectivity that will benefit women and indigenous territories.” 

The second level will help Panama continue developing capabilities to manage its natural resources sustainably and plan for climate change.  The agency explained that this includes support for instruments that contribute to improving climate planning and governance, such as the National System for Adaptation to Climate Change and Climate Change Scenarios, which will function as a basis for planning public and private investments for the future.  “Panama's ability to support rapid economic growth and further reduce poverty is interconnected with its ability to adapt to climate change and mitigate its effects,” said Michel Kerf, World Bank regional director for Central America and the Dominican Republic.

Michel Kerf said that the programs to reduce carbon emissions and accelerate the energy transition demonstrate Panama's commitment to achieving a sustainable and resilient future in the face of climate change.  The agency explained that this credit operation is based on the previous development policy loan (PPD), on Climate Resilience and Green Growth approved by the World Bank in April 2023.  “During the 2019-24 period, the Government of Panama carried out political reform actions and measures related to the energy transition and climate resilience, as part of its process to decarbonize the transportation sector and, at the same time, mitigate the negative effects of climate change on the national economy,” said the Minister of Economy and Finance of Panama, Héctor Alexander.

https://www.newsroompanama.com/news/world-bank-approves-a-350-million-dollar-loan-for-panama