Assembly preparing 20 questions for outgoing Humbert. They hate the guy that calls out their SHIT.
https://www.prensa.com/politica/Asamblea-cuestionario-preguntas-contralor-Humbert_0_5368713091.html The second vice president of the National Assembly , the deputy of Molirena Tito Rodríguez , reported this Thursday, August 8, that they prepare a questionnaire of about 20 questions for the comptroller of the Republic, Federico Humbert . info Assembly again prevents the entry of auditors from the …
We look back at Varela as Nito era begins.
OP ED: Based on what we reported on during the year, thought this would be higher. I’m pissed I can’t rant a bit more. “JB” https://www.prensa.com/politica/millones-dolares-publicidad-gastaron-Varela_0_5339466030.html During the five years of administration of President Juan Carlos Varela , (2014-2019), the investment in advertising amounted to $ 26 million 447 thousand …
Third approved moratorium seeks to rectify what ANATI failed on previously for tax benefit.
The Economy and Finance Commission of the National Assembly approved this Wednesday in the second debate the bill 745, which allows a third moratorium, for the payment of property tax in surcharges. The president of the Assembly, Yanibel Ábrego, affirmed that the approval was born in response to the popular …
DISCRETIONARY SPENDING AUDIT FINALLY IN: $42 Million
OP ED: by James “JB” Bryson Please refer to the PNO.com blog entry and article last week that mentioned the fact that Varela administration was delinquent and tardy in disclosing what “discretionary spending” was for the past quarter of his term. New article in La Prensa today states that the …
IMF forecasts Panama to grow back at 5% up from 4% in 2018
After 2018, with projected growth of around 4%, the most moderate in the current decade, projections indicate that the country’s economy will rebound at rates above 5% in the short and medium term. MEF: Panama is set to return to the FATF gray list Debt grows $ 2,710 million Panama’s …
ALTRIA- (US company that owns MARLBORO) enters the Cannabis business.
One of the largest tobacco companies in the world has launched the cannabis market with an investment of $ 1.8 billion in Cronos Group , a Canadian medical and recreational marijuana company. Altria , which makes Marlboro cigarettes, is acquiring a 45% stake in Cronos. He added that the tobacco …
Debt grows but remains in lockstep with Economic Growth
The debt of the non-financial public sector increased by $ 322 million during the last year and stood at $ 24,376.7 million at the end of July. $ 24,386 million debt Since 2014, when the government of President Juan Carlos Varela began , the increase is $ 6,750 million, according …
CSS- Social Security update for Panamanians
All contributors to the Social Security Fund (CSS) that belong to the mixed subsystem of pensions have, as part of their personal savings component, a total of $ 821 million , according to the unaudited information of the institution, reported until 2016 . Mixed program reports $ 2,457 million in …
Comptroller audits reveal egregious abuse of public funds
“It is very sad to see how the funds of all Panamanians were handled in such an irresponsible manner,” said Comptroller Federico Humbert , regarding the audits of payrolls and donations in the National Assembly . Deputy Adolfo Valderrama named nephew who lives in Mexico Deputy Leandro Ávila must render …
Over $52 Million owed to Social Security
A total of $ 52.4 million owes the State to the Social Security Fund (CSS) in worker-employer quotas that stopped reporting dependencies of the central and decentralized government, and those generated by special laws. The vice-president of the board of directors of the CSS, Roberto Valencia , provided a report …
Administration sees Public sector debt rise over $30 Million
The total debt of companies linked to the public sector in Panama totaled $ 31,445 million, according to official reports from the Ministry of Economy and Finance (MEF) and the Panama Canal Authority (ACP). According to reports from the Public Financing Directorate of the MEF, the debt of the Non-Financial …
Impact of Coffee on Panamanian economy evaluated in study
The multiplier effect of the coffee industry on the added value of the Panamanian economy was estimated at $ 212.2 million in 2015, according to the study “Economic Impact of the Coffee Industry in Panama” presented on Wednesday, June 6. The greatest impact of this industry is generated through the …
Panama City no longer the deal it was a few years ago, living costs rising steadily in Latin America
Panama City is the most expensive Latin American city in the world, followed by Buenos Aires and Santiago de Chile, according to the benchmark index of the Swiss bank UBS published today, which places Zurich in the first position of the most expensive cities, ahead of Geneva and Oslo. The …
Foundation calls for end to “discretionary funds” for Deputies
The Foundation for Development and Citizen Liberty (Panamanian chapter of Transparency International ) asked the Executive “not to devote more discretionary funds for the management of deputies,” and that the Office of the Comptroller General of the Republic be allowed to audit the items used by the National Assembly to …
Financial Pacific pyramid case continues with questionable $8.5 million loan satisfaction
Without a visible bank refinancing certification, Riccardo Francolini – who was benefited yesterday with a bail of $ 100 thousand in the Financial Pacific case – paid a loan of $ 8.5 million in 9 months . The money was requested on loan to buy a ” Plug & Grind …
Urban development requiring $20 billion until 2035
The Ministry of Housing and Territorial Planning (Miviot) published in the Official Gazette the Urban Development Plan for the Pacific and Atlantic Metropolitan Areas (Panama-Colón), which suggests a state investment of $ 20 billion in infrastructure to face the growth urban until the year 2035. Juan Manuel Vásquez , Vice …
Panama seeks to become Latin America leader in new Technology
This year Panama will present 130 technological patent applications to the Ministry of Commerce and Industries (MICI), which means that the country aspires to become the first in Latin America to generate applications through the Patent Cooperation Treaty (PCT). in English), when measuring the number of applications per million inhabitants, …
SUNTRACS hoped for agreement last night, still no end to strike
The Panamanian Chamber of Construction (Capac) and the Single Union of Construction and Similar Workers (Suntracs) sought to reach an agreement last night. However, at the close of this note (7:00 pm) they were still negotiating. Suntracs leader Luis Gonzalez said in the afternoon that there might be ‘white smoke’ in …
Panama signs new Free Trade Agreement with Israel
In the framework of the meeting between the president of Panama, Juan Carlos Varela and the Prime Minister of Israel, Benjamin Netanyahu, the signing of a Free Trade Agreement and a memorandum of understanding on agricultural matters was celebrated. The Free Trade Agreement, signed by the Minister of Commerce and …
Lufthansa (largest German carrier), and other airlines to increase traffic to Tocumen
The inventory of air frequencies is expanded. Several airlines have announced new frequencies from Panama in order to expand their service in the region and meet the demand of their customers. As of November 3 of this year, the German airline Lufthansa will add an additional frequency to its route Panama …
Parque Porras set for SUNTRACS assembly ahead of arbitration meeting
The construction workers affiliated to the Suntracs begin to arrive at the Porras Park for the General Assembly in the debate about the continuity or not of the strike that today has 27 days. The assembly is scheduled to start at 10:00 in the morning and according to the leaders …
Insect that ravages coffee harvest may have hope to being mitigated
When the rainy season begins, the insect of the coffee borer takes advantage to attack. The Hypotenemus hampei , also known as coffee borer, punches the mature grain and severely damages the quality and flavor of the product. Its effect is so devastating, that it reduces coffee production by 50% …
Class system struggles awash all of Venezuela under Maduro rule
Corina lives in a luxurious house but can not frequent restaurants; Federico , journalist, does not have for the cinema; and Alida , a seller, longs to eat chicken but it is not enough. Even with their class differences, the crisis changed their lives. The arepa – corn tortilla typical …
FACEBOOK enters alliance with Latin America; 1.9 Million Panamanian users
Facebook signed an alliance with Cisneros Interactive that makes the latter the official commercial representative of the social network in nine countries in the region: Panama, Puerto Rico, Guatemala, the Dominican Republic, Costa Rica, Uruguay, Bolivia, Ecuador and Paraguay. At present, 1.9 million Panamanians enter Facebook every month, of which …
CCIAP calls for oversight of discretionary spending
The Chamber of Commerce, Industries and Agriculture of Panama (CCIAP) yesterday asked the National Assembly to stop the discretionary use of State resources through the deputies. In a pronouncement of this business entity signed by its president, Gabriel Barletta, the CCIAP asks the members of the Assembly to fulfill the …
Spending leading to a large spike in debt, Warnings issued
Economists consulted by La Estrella de Panama pointed out that the increase in Central Government expenditures versus total revenues could increase the country’s fiscal debt. Much of that debt, they added, could be purchased to meet the commitments and campaign works of the current government administration, which is about to end. The …
China continues to explore investing in Panama
A mission of the China Chamber of Commerce for the Import and Export of Machinery and Electronic Products (CCCME) is located in Panama to explore investment and business opportunities in the country. The delegation of more than 30 businessmen from the sectors of energy, urban construction, machinery, environment, electronic products, …
Increasing numbers of public debt released
The balance of the public debt rose to $ 23 thousand 673 million in the first quarter of 2018, reported the Public Financing Directorate . The figure represents an increase of one thousand 710 million dollars compared to the balance one year earlier. In March 2018, the Government received disbursements …
Subsidy approved for the SUNTRACS strikers
The Single Trade Union of Construction and Similar Workers ( Suntracs ) continued this Friday, May 4 with the granting of the strike subsidy to the workers who started this measure since April 18. + info $ 9 million, disbursement that Suntracs must assume in two weeks of strike Varela …
ACP and tugboat captains to meet today
Members of the Commission for Public Infrastructure and Canal Affairs of the National Assembly urged the directors of the Panama Canal Authority (ACP) and captains and mariners of tugboats to seek an understanding of the conflict between both parties. The transit through the neopanamax locks was interrupted on April 12 …