Three US authorities cite Panama corruption

1,274Views 0Comments Posted 04/04/2022


study on corruption prepared by the Council of Lawyers for Civil and Economic Rights – a program of the Cyrus R. Vance Center for International Justice of the New York Bar Association – concluded that in Panama “the anti-corruption regulatory framework is insufficient”, and that “there is a lack of prevention mechanisms, regulation of conflicts of interest, domain extinction”, to which is added “the existence of very weak sanctions”. For its part, the rating agency Fitch Ratings indicated that in Panama the governance indicators on the control of corruption are weaker than in other countries with a similar level of risk rating, which weakens the sovereign risk profile. In turn, the Morgan Stanley bank concluded that "the main governance problem in Panama is corruption" and its permanence on the gray list of the Financial Action Task Force, which it is due to deficiencies in preventing and prosecuting money laundering. Three organisms conclude the same: our problem is corruption. It is not the supposed legal insecurity or political persecution, as Ricardo Martinelli says. Foreign investment will not come to the country because criminals do not go to jail. End of story. – LA PRENSA, Apr. 4.