Security & Strategic Review - June 2023

PANAMA: Seeking to address transparency concerns

In early May, a Panamanian government delegation led by Economy & Finance (MEF) Minister Héctor Alexander held meetings with directors and officials from Belgium, the European Commission, and Germany as part of efforts to reiterate Panama’s commitment to transparency in the fight against money laundering. It is the latest sign of efforts by the government led by President Laurentino Cortizo to remove Panama from the grey list of countries that are not doing enough to combat money laundering, drawn up by the Financial Action Task Force (FATF) of the Organisation for Economic Cooperation and Development (OECD). However, the shelving of a proposed asset forfeiture bill by Panama’s legislature on 27 April raises questions about the authorities’ commitment to tackling corruption.

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