Author: michaelm

A network of investigative journalists will present findings today on Venezuela’s so-called “ghost fleets” used to circumvent international sanctions. The Monday briefing will detail connections between these oil operations, Panamanian-flagged vessels, and alleged narcotics trafficking. The event follows a weekend incident where U.S. authorities intercepted a Panamanian-flagged tanker named the Centuries.Rolando Rodriguez, the associate director of La Prensa newspaper, is a featured speaker. He will be joined by three other panelists specializing in regional corruption and finance. They include Ivan Ruiz from the Latin American Center for Investigative Journalism (CLIP), Roberto Deniz from Armando.Info, and Mercedes De Freitas from Transparency…

Panamanian authorities arrested the legal representative of a construction company on Monday as part of a widening investigation into a multi million dollar public health project. The National Council for Sustainable Development (Conades) basic sanitation program is now at the center of a major corruption probe involving at least thirteen people.The Anti Corruption Prosecutor’s Office and the Judicial Investigation Directorate carried out the operation in the Brisas del Golf area of San Miguelito. Officials detained the representative of Inversiones Herabel S.A. on suspicion of embezzlement.  They allege the company failed to complete a contract for 470 sanitary units in the…

Divers in festive gear swam with tropical fish during a unique Christmas event at Panama’s Biomuseo this Sunday. The museum on the Amador Causeway combined science, music, and holiday spirit for a family-friendly celebration marking the start of the 2025 holiday season.The “Christmas Dive” formed the centerpiece of the day. Costumed divers entered the museum’s permanent “Divided Oceans” exhibition tanks. They interacted with and fed the resident fish populations while displaying holiday messages to delighted visitors watching from the other side of the glass.Museum officials stated the event aimed to create a memorable bridge between ecological education and cultural tradition.…

Panama’s total public debt climbed to $58.9 billion in November 2025. The Ministry of Economy and Finance released the latest figures this week, showing a continued but slower pace of borrowing by the Central American nation.The November balance of $58,904.6 million represents a monthly increase of $71.9 million. This modest 0.1 percent rise follows a period of much faster accumulation earlier in the year. Officials attributed the primary driver to new domestic debt issuance, specifically $228.2 million in Treasury bills placed at an average yield of 4.91 percent.”Our deficit target is 4 percent, next year is 3.5 percent, and we…

The World Bank Group’s executive board has approved a comprehensive $1.9 billion financial operation for Panama. This package, confirmed on December 20, 2025, is designed to bolster the nation’s fiscal sustainability and support a series of structural economic reforms.The operation combines a direct policy loan with two guarantees to facilitate more favorable commercial borrowing. It arrives as Panama’s government seeks to stimulate economic growth and job creation through updated fiscal policies.A Three-Part Financial Support StructureThis financial package from the World Bank Group is structured around three core instruments. A $500 million Development Policy Loan forms the foundation, directly supporting fiscal…

Tocumen International Airport, the main aviation hub of Panama, has handled more than 19 million passengers so far in 2025. Official figures released this week show the airport’s traffic grew by nine percent compared to the same January-November period last year, solidifying its role as a major Latin American connector.The data reveals a consistent upward trend in both passenger volume and flight operations. In November alone, the terminal mobilized over 1.77 million travelers. That number marks a near ten percent year-on-year increase from the 1.61 million passengers recorded in November 2024.Transit Passengers Drive Record NumbersA significant 72 percent of all…

A major global ports deal involving two strategic terminals near the Panama Canal has reportedly reached an impasse. Negotiations for the sale of CK Hutchison’s port assets, including the Balboa and Cristobal terminals, to a consortium led by BlackRock and Mediterranean Shipping Company (MSC) have stalled due to new demands from China, according to a Wall Street Journal report published Tuesday.The $22.8 billion transaction, announced in March, would involve more than 40 ports worldwide. Its fate is now entangled in broader geopolitical tensions between the United States and China over influence near the critical waterway. Washington has consistently expressed security…

The Panama Canal Authority (ACP) has transferred a historic $2.965 billion dividend to the national government. This payment for the 2025 fiscal year marks a significant 20 percent increase from the previous year’s contribution.The funds, delivered directly to the National Treasury, consist of $2.372 billion from the waterway’s operational surplus and $591 million from tonnage duty payments. An additional $2 million covers fees for public services. This total exceeds the ACP’s original budget projection for the year by 6.3 percent, or roughly $175.5 million.Ceremony Highlights Workforce ContributionPresident José Raúl Mulino formally received the ceremonial check during an event at the…

The Ministry of Economy and Finance (Panama) transferred $300,000 to the municipality of Chagres in November 2024. This occurred while the district’s mayor, Eugenio “Geñito” Delgado, was under criminal investigation for his alleged role in a separate funding scandal. The payments raise new questions about the oversight of public funds and political connections within Panama’s local governments.Official records confirm two separate disbursements reached the Chagres municipal coffers late last year. Delgado faces prosecution for alleged embezzlement, or “peculado,” connected to his prior administration. He is specifically accused of mishandling approximately $1.4 million from a previous decentralization fund. A judge has…

Panama’s National Police apprehended two individuals and confiscated more than $59,000 in counterfeit US dollars during a targeted operation in Panama City. The seizures, part of an initiative called Operation Numeral, occurred in the Juan Díaz and Don Bosco districts following an investigation into suspected counterfeit currency distribution.Authorities launched the operation after investigative work pointed to suspicious activity in Juan Díaz. Police units located a vehicle acting suspiciously in a commercial plaza and detained its two occupants. With a judicial warrant in hand, officers conducted a search of the car.That search revealed a significant stash of fake bills. “Upon verifying…