Soon the rather good Metro train system will be running to Tocumen international airport, as empty trains are to start test runs on the new line extension.

Well, now we know why Odebrecht has not paid the money it owes Panama as compensation for the corruption-driven operations in the country in the past – it says it has no resources to face the payment of the fine applied under a penalty agreement signed in 2017 for money laundering, after it admitted to having distributed bribes to Panamanian politicians and officials.

Rather better news, perhaps, is that the Government and the mining company have, after 2 years, agreed a new 20-year contract for operation of the copper mine. Under the new deal a minimum income for Panama of $375 million is guaranteed for each year of the contract. Panama expects to receive approximately 10 times more than it received under the original 1997 contract.

8 MARCH 2023

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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