Cameron criticized complex offshore structures in 2013, saying that it is "not fair and not right what some [companies] are doing by saying 'I've got lots of sales here in the UK but I'm going to pay a sort of royalty fee to another company that I own in another country that has some special tax dispensation.'" He said he would bring up the issue at the G8 summit that year.[309] At the summit, Cameron demanded more transparency, arguing that it would be better for business.[302] In 2014, Cameron asked all Overseas Territories and Crown dependencies to set up an open register of firms and individuals with investments registered in their jurisdictions, but by the time of the Panama Papers leak in April 2016, only Montserrat and Gibraltar had agreed to do so.[310]
In 2008–2009, the Beny Steinmetz Group Resources (BSGR) and its owner Beny Steinmetz paid just $165 million for the mining rights to the northern portion of Simandou mine, located in the Nzérékoré region of Guinea's interior. Soon after, he sold 51 percent of the rights to Vale for $2.5 billion. Rio Tinto, which had previously held the concession, had invested $450 million into infrastructure at the site.[458] Global Witness says BSGR in fact paid nothing for the rights, and the $165 million represents BSGR's self-reported investment in improvements at the site. It adds that either way BSGR's profit exceeded the national budget of Guinea.[459]
Rodrigo de Bastidas sailed westward from Venezuela in 1501 in search of gold, and became the first European to explore the isthmus of Panama. A year later, Christopher Columbus visited the isthmus, and established a short-lived settlement in the Darien. Vasco Núñez de Balboa's tortuous trek from the Atlantic to the Pacific in 1513 demonstrated that the isthmus was indeed the path between the seas, and Panama quickly became the crossroads and marketplace of Spain's empire in the New World. Gold and silver were brought by ship from South America, hauled across the isthmus, and loaded aboard ships for Spain. The route became known as the Camino Real, or Royal Road, although it was more commonly known as Camino de Cruces (Road of Crosses) because of the number of gravesites along the way.

In 1981 Torrijos died in a plane crash.[29] Torrijos' death altered the tone of Panama's political evolution. Despite the 1983 constitutional amendments which proscribed a political role for the military, the Panama Defense Force (PDF), as they were then known, continued to dominate Panamanian political life. By this time, General Manuel Antonio Noriega was firmly in control of both the PDF and the civilian government.[when?]
Citing leaked diplomatic cables, Fortune writer Chris Matthews speculated that Obama and Clinton may have supported the agreement, after opposing it while campaigning for office, because it was a quid pro quo for Panamanian support of US efforts against drug trafficking. In any event, he notes, while it is true that the agreement abolished limits on fund transfers between the US and Panama, the Obama administration insisted that the two countries first sign a Tax Information and Exchange Agreement as well, which facilitated the exchange of tax information between the countries.[419]

On April 6, the federal police searched UEFA headquarters in Nyon as part of a "criminal mismanagement" probe into a Champions League television rights deal signed by FIFA's new president Gianni Infantino.[287] The same day, Geneva's attorney general opened several procedures in reaction to a report about misconduct by Swiss lawyers and trustees.[288]


Sri Lankan Finance Minister Ravi Karunanayake said his panel will investigate Sri Lankan names that come up in the Panama Papers, as well as the 46 who appear in the 2013 Offshore Leaks, according to the Daily Mail, since earlier leadership apparently did not do so. The country has many large outstanding foreign loans taken out under the administration of former president Mahinda Rajapakse, and the current government recently had to obtain a US$1.5 billion IMF bailout. Rajapakse has denied diverting funds. The current government came to power in January 2016 on an anti-corruption platform.[382]
Indian politicians on the list include Shishir Bajoria from West Bengal and Anurag Kejriwal, former chief of the Delhi Lok Satta Party.[353] Bajoria said he owned two other Isle of Man companies but not the one ascribed to him in the leaked documents. Corporate services provider First Names Group acknowledged erroneously providing his information to Mossack Fonseca.[357] MF records show Kejriwal as director of three offshore companies based in the British Virgin Islands (BVI), and holding two private foundations in Panama and power of attorney of another BVI company. He acknowledged having had offshore companies but said he shut them down after a short period of time.[358]
The US influence in Panama can be seen in the country's sports. Baseball is Panama's national sport and the country has regional teams and a national team that represents it in international events. At least 140 Panamanian players have played professional baseball in the United States, more than any other Central American country.[89] Notable players include Bruce Chen, Rod Carew, Mariano Rivera, Carlos Lee, Manny Sanguillén, and Carlos Ruiz.
Areas of alluvial soils (which develop from clay, silt, sand, and gravel deposited by streams) are especially fertile but are limited to the lower parts of river valleys. The commercial banana plantations around Puerto Armuelles and in western Bocas del Toro province are mainly on alluvial soils. Some of the soils along the inland edges of coastal mangrove swamps have also proved productive. In some areas, exceptionally fertile soils have developed from volcanic ash.
The ICIJ investigation of Mossack Fonseca was reported to the Public Ministry. Samid Dan Sandoval, former candidate for mayor of Santiago de Veraguas (2014), filed the legal action against the journalists and all those who had participated. He said the project name damaged the integrity, dignity and sovereignty of the country and that the consortium would have to assume legal responsibility for all damage caused to the Panamanian nation.[151]
US authorities say that Steinmetz paid Mamadie Touré $5.3 million for her help in obtaining the concession from her husband Lansana Conté, president of Guinea, shortly before he died.[442] According to Global Witness, an offshore company belonging to Touré, Matinda, received a payment of $2.4 million from a company named Pentler Holdings. Several more payments were promised as well as 5% of BSGR shares in Simandou. Pentler owned 17.65% of BSGR Guinea.[458]

Revenue from canal tolls continues to represent a significant portion of Panama's GDP, although commerce, banking, and tourism are major and growing sectors. It is regarded as a high-income country.[10] In 2015 Panama ranked 60th in the world in terms of the Human Development Index.[11] In 2018, Panama was ranked seventh-most competitive economy in Latin America, according to the World Economic Forum's Global Competitiveness Index.[12] Covering around 40 percent of its land area, Panama's jungles are home to an abundance of tropical plants and animals – some of them found nowhere else on earth.[13] Panama is a founding member of the United Nations and other international organizations such as OAS, LAIA, G77, WHO and NAM.

^ MOVIN: an independent political movement based in Panama, focused on influencing and monitoring the independence, efficiency and transparency of government institutions and their management. See "Civil Society | Policy Areas | ERCAS – European Research Centre for Anti-Corruption and State-Building". www.againstcorruption.eu. Archived from the original on November 10, 2016.


The Panama Papers are an unprecedented leak of 11.5m files from the database of the world’s fourth biggest offshore law firm, Mossack Fonseca. The records were obtained from an anonymous source by the German newspaper Süddeutsche Zeitung, which shared them with the International Consortium of Investigative Journalists (ICIJ). The ICIJ then shared them with a large network of international partners, including the Guardian and the BBC.
The number of tourists from Europe grew by 23.1 percent during the first nine months of 2008. According to the Tourism Authority of Panama (ATP), from January to September, 71,154 tourists from Europe entered Panama, 13,373 more than in same period the previous year. Most of the European tourists were Spaniards (14,820), followed by Italians (13,216), French (10,174) and British (8,833). There were 6997 from Germany, the most populous country in the European Union. Europe has become one of the key markets to promote Panama as a tourist destination.
Petroleum Minister José Maria Botelho de Vasconcelos had power of attorney for an offshore company in 2002, when he became petroleum minister after previously being employed for a number of years as an executive at Sonangol,[439] according to the leaked documents. He denies wrongdoing.[441] ICIJ partner Le Monde says it has seen documents that show he was the proxyholder for Medea Investments Limited, founded in Niue in 2001, and moved to Samoa five years later. The company, which issued only bearer bonds, had a capitalization of $1 million, and closed in 2009.[439] He has never previously been accused of corruption.[442]
The end of the encomienda system in Azuero, however, sparked the conquest of Veraguas in that same year. Under the leadership of Francisco Vázquez, the region of Veraguas passed into Castilian rule in 1558. In the newly conquered region, the old system of encomienda was imposed. On the other hand, the Panamanian movement for independence can be indirectly attributed to the abolition of the encomienda system in the Azuero Peninsula, set forth by the Spanish Crown, in 1558 because of repeated protests by locals against the mistreatment of the native population. In its stead, a system of medium and smaller-sized landownership was promoted, thus taking away the power from the large landowners and into the hands of medium and small-sized proprietors.
In 2010, it was estimated that 94.1 percent of the population was literate (94.7 percent of males and 93.5 percent of females).[83] Education in Panama is compulsory for the children between 6 and 18. In recent decades, school enrollment at all levels, but especially at upper levels, has increased significantly. Panama used to participate in the PISA exams but due to debts and unsatisfactory exam results is postponing participation until 2018.[84]
The original pollera consists of a ruffled blouse worn off the shoulders and a skirt with gold buttons. The skirt is also ruffled, so that when it is lifted up, it looks like a peacock's tail or a mantilla fan. The designs on the skirt and blouse are usually flowers or birds. Two large matching pom poms (mota) are on the front and back, four ribbons hang from the front and back from the waist, five gold chains (caberstrillos) hang from the neck to the waist, a gold cross or medallion on a black ribbon is worn as a choker, and a silk purse is worn at the waistline. Earrings (zaricillos) are usually gold or coral. Slippers usually match the color of the pollera. Hair is usually worn in a bun, held by three large gold combs that have pearls (tembleques) worn like a crown. Quality pollera can cost up to $10,000, and may take a year to complete.

ItineraryThis is a typical itinerary for this productStop At: Fort San Lorenzo, Colon, Colon ProvinceThe ruins of San Lorenzo Fort which is famous for repelling attacks by all the pirates of the Caribbean for almost 75 years. Duration: 1 hourStop At: Agua Clara Locks, Colon, Colon ProvinceYou will have the opportunity to see post-Panamax boat transiting the new Canal Locks.Duration: 1 hour
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