Author: spieper

Panamanian homeowners with subsidized mortgage loans will see higher monthly payments starting this November. The Superintendency of Banks of Panama officially increased the benchmark mortgage interest rate for the final quarter of 2025, a move that directly impacts preferential housing loans across the banking system. This adjustment raises the key reference rate from 6.25 percent to 6.50 percent, representing an increase of twenty-five basis points. Financial institutions including Banco General, Multibank, and Global Bank have already begun notifying customers about the change. The new rate took effect October 1, with banks implementing the adjustment throughout October and November. Regulatory Announcement…

A new $15 million university campus in Panama sits empty and nearly finished, awaiting final approval from government auditors. The San Miguelito Regional University Center, a project of the University of Panama, has reached 98 percent completion but remains closed to students due to bureaucratic delays. University officials are now appealing directly to President Jose Raul Mulino for intervention to open the advanced facilities. Legal advisor Miguel Delgado confirmed the standstill stems from two pending addendums that require approval from the Office of the Comptroller General of the Republic. These documents are essential for releasing the final funds and authorizing…

Air travel between Panama and the United States continues uninterrupted this week despite significant flight reductions within the US. The Federal Aviation Administration is temporarily cutting domestic flights by ten percent due to a federal government shutdown that has limited air traffic controller staffing. This situation has not impacted international routes to and from Panama, according to officials at Tocumen International Airport and major airlines.Passengers can expect their flights to operate on schedule. Airlines are nonetheless advising travelers to arrive at the airport early and monitor for any notifications about potential delays with connecting flights inside the United States. The…

Two major ferry companies halted all passenger service to Taboga Island on Friday, November 7, stranding residents and cutting off tourist access. Taboga Express Fast Ferry and Barcos Calypso announced the indefinite suspension, citing unsafe conditions at the island’s docking pier and a lack of security guarantees for passengers. The decision plunges the popular island destination into a transportation crisis. It follows recent protests by island residents who are angry about a recent fare increase that raised ticket prices for locals and tourists. The situation leaves the island’s community fearing economic isolation and a collapse in vital tourism traffic. “[We…

Panama’s Ministry of Health has officially confirmed a major new hospital project for the capital’s northern district. Health Minister Fernando Boyd Galindo announced the government will invest more than 60 million dollars to build the Panama North Hospital, a facility that will feature 170 beds and serve a population exceeding 300,000 residents.This long awaited infrastructure project aims to address a critical healthcare gap for communities that have sought proper medical facilities for over ten years. Minister Boyd Galindo characterized the hospital as an urgent necessity for improving medical attention in the sector. He expressed the current administration’s commitment to finally…

Panamanian marketing agency Star5 earned the highest creative honor in the Spanish and Portuguese speaking world this week. The agency won the “Best Idea of Ibero America” country award at the FIAP 2025 festival for its groundbreaking NESCAFÉ Decaf Billboards campaign. This victory marks the first time a Panamanian idea has received the top prize at the prestigious international competition. The campaign also collected five additional medals across multiple categories. These included three gold awards in Outdoor formats, Public Road Gold, and Best Use of Ambient Media. It secured two silver awards for Innovation in Outdoors and Public Road Products.…

Panama’s Ministry of Environment has launched a formal investigation after a citizen’s social media post alleged potential environmental damage. Officials from the agency conducted a technical inspection at the reported site in the Panama Metropolitan region this week. The inspection aimed to verify the claims and assess any impacts on the local ecosystem.The ministry mobilized its Directorate of Environmental Performance Verification and the Regional Directorate of Metropolitan Panama to lead the inquiry. They deployed a team of specialists to the location following the online complaint. This rapid response underscores the government’s stated commitment to addressing public concerns about ecological welfare.Immediate…

Panama successfully completed its fourth Universal Periodic Review before the United Nations Human Rights Council this week. The Central American nation presented its human rights record during the 50th session of the UPR Working Group at the Palais des Nations in Geneva, Switzerland.An official delegation led by Vice Minister of Indigenous Affairs Doris Bill and Ambassador Juan Alberto Castillero Correa, Panama’s Permanent Representative to the UN in Geneva, defended the country’s progress. The session unfolded under the presidency of Paul Empole Efambe, Vice President of the Human Rights Council and Ambassador of the Democratic Republic of Congo.Comprehensive National RepresentationPanama sent…

The Inter-American Union of Electoral Organizations (Uniore) has a new presiding nation. Panama officially transferred the Pro Tempore Presidency to Paraguay during the organization’s seventeenth conference held in Asuncion. This move concludes a two-year term where Panamanian authorities focused on technical strengthening and defending digital democracy.Alfredo Juncá Wendehake, a magistrate from Panama’s Electoral Tribunal, formally handed over leadership to César Emilio Rossel, a minister from Paraguay’s Superior Court of Electoral Justice. The ceremony marked the end of a period defined by ambitious regional cooperation. Officials from across the Americas witnessed the transition, which sets the stage for Paraguay’s upcoming leadership…

Colon Mayor Diogenes Galvan issued a forceful demand to Panama’s national government during independence day ceremonies, insisting it must correct a fiscal system that prevents 2,600 businesses from paying municipal taxes. The mayor delivered his sharply worded address on November 5 during flag day celebrations attended by President Jose Raul Mulino, creating a direct public challenge to the new administration. Galvan framed the situation as a structural crisis preventing basic municipal functions. He stated that while more than 4,300 companies should theoretically pay taxes in the district, the vast commercial operations centered around the Colon Free Trade Zone and private…