Author: spieper

The Panamanian banking system concluded 2025 with robust growth in deposits and credit, according to official year-end figures released this week. The Superintendency of Banks of Panama presented the financial results for the nation’s International Banking Center on Wednesday, February 25. The data shows a sector expanding in line with the broader economy, though driven increasingly by international financial flows.Total deposits managed by banks reached $116.81 billion by December 2025. This marked a significant increase of 5.72 percent, or an additional $6.32 billion, compared to the previous year. The credit portfolio, a key indicator of economic activity, grew by 5…

The United States Embassy in Panama has opened a special call for proposals under the Ambassador’s Fund for Cultural Preservation. Announced on February 25, 2026, this “Freedom 250” edition commemorates the 250th anniversary of U.S. independence and the fund’s own 25-year milestone. Panamanian institutions have until March 27, 2026, to submit applications for grants ranging from $25,000 to $250,000 aimed at preserving sites and traditions with historical ties to the United States.This initiative underscores a strategic diplomatic effort to strengthen bilateral ties through shared history. The program explicitly prioritizes projects that facilitate technical exchanges between American and Panamanian professionals. It…

Panamanian President Jose Raul Mulino signed a revised version of a key sports law this Tuesday, putting an end to a months-long legislative process. The enactment of Law 509, which modifies the framework for the National Institute of Sports (Panama), followed partial objections from the executive branch that forced a rewrite. Mulino’s office had raised constitutional and budgetary concerns about the original bill passed by lawmakers in September 2025. The president formally sanctioned the law only after the National Assembly incorporated his administration’s required changes during a new round of debates this month. Constitutional Concerns Prompted Presidential Veto The executive…

The Panamanian government has initiated a sweeping administrative process to dissolve more than 290,000 suspended corporations and foundations. The Ministry of Economy and Finance (MEF) will start the unprecedented action on February 27, 2026, targeting entities that have failed to comply with fiscal obligations for over a decade.This large-scale dissolution aims to purge the national corporate registry and strengthen legal and financial system integrity. Officials describe the move as critical for meeting both domestic law and Panama’s international commitments on transparency and financial compliance.Phased Implementation Targets Non-Compliant EntitiesThe dissolution process will unfold in two distinct phases, according to the ministry’s…

A research team in Australia has identified a crucial genetic defense against the soil-borne fungus that threatens the world’s primary banana crop. Scientists from The University of Queensland announced the discovery this week, pinpointing a specific genomic region for resistance in a wild banana plant. Their work offers a potential long-term solution for protecting the global Cavendish banana supply from a disease that can wipe out entire plantations.The breakthrough focuses on combating Fusarium wilt, commonly known as panama disease. A virulent strain called Subtropical Race 4 (STR4) causes the lethal infection. This pathogen invades banana plants through their roots, blocking…

Operation Smile Panama inaugurated a new comprehensive care center this Thursday in the Llanos de Curundú neighborhood of Panama City. The nonprofit foundation invested over $800,000 to establish the dignified facility, which will provide free specialized care for children with cleft lip and palate conditions. This expansion significantly enhances the organization’s ability to serve patients across the country who require complex reconstructive surgery and multidisciplinary support.The new center features six consultation rooms dedicated to orthodontics, dentistry, speech therapy, pediatrics, nutrition, and psychology. All services are offered at zero cost to patients and their families. For 35 years, Operation Smile Panama…

Residents of the Nuevo Tocumen neighborhood in Las Tablas blocked a major ring road on Monday, February 23, demanding action after more than two weeks without a reliable water supply. The protest highlights a deepening crisis in the Azuero Peninsula, where communities are growing increasingly desperate for a basic service. For over an hour, demonstrators brought traffic to a halt on one of the city’s principal thoroughfares. They were waiting for officials from the national water authority to arrive and address their grievances. National Police officers were present at the scene to monitor the situation. After some time, the protesters…

Panama’s Tocumen International Airport has secured the title of the world’s most punctual medium-hub airport for the second consecutive year. The global aviation analytics firm Cirium (company) awarded the distinction based on its 2025 On-Time Performance Review, which recorded a 93.34% punctuality rate for the Panamanian hub. This year’s performance marks a significant three-percentage-point improvement over its 2024 rating of 90.34%. The data solidifies Tocumen’s position not just as a regional leader but as a top performer in global aviation efficiency. The award ceremony included key figures from Panama’s aviation and diplomatic sectors. Official Recognition and National Pride Airport General…

The Panamanian government has ordered the temporary occupation of the nation’s two largest ports. An executive decree published Monday, February 23, 2026, mandates the state takeover of the Balboa and Cristobal port terminals, citing an urgent social interest.Official documents show the Panama Maritime Authority must now take possession of all movable assets required for continuous operation. This includes cranes, vehicles, computers, software, and other essential equipment at both facilities.Decree Details and Government RationalePresident José Gabriel Carrizo’s administration issued the directive through an Executive Decree (Panama). The order took effect immediately upon its publication in the Official Gazette. It authorizes the…

Panama’s Supreme Court has formally nullified the concession contract for the country’s two largest ports. The definitive ruling against Panama Ports Company was published in the official gazette on Monday, February 23, 2026, stripping the firm of its rights to operate the strategic Balboa and Cristobal terminals.This action permanently revokes the legal framework that granted the company control over vital Atlantic and Pacific port facilities. The court found the 1997 contract law and its amendments violated multiple constitutional articles, deeming the agreement detrimental to public interest.Court Cites Fundamental Violations of Public OrderThe constitutional court concluded its review by declaring the…