Initially, only select names of politicians, public officials, businessmen, and others involved were revealed. One of the immediate consequences of the revelations was the April 4, 2016, resignation of Iceland's Prime Minister Sigmundur David Gunnlaugsson. On May 9, all of the 214,488 offshore entities named in the Panama Papers became searchable via a database on the website of the International Consortium of Investigative Journalists (ICIJ). 
In November 1903 Panama proclaimed its independence[25] and concluded the Hay–Bunau-Varilla Treaty with the United States. The treaty granted rights to the United States "as if it were sovereign" in a zone roughly 16 km (10 mi) wide and 80 km (50 mi) long. In that zone, the US would build a canal, then administer, fortify, and defend it "in perpetuity".
Demetrio Carceller Coll and his sons, Spanish businessman. He was the son of Demetrio Carceller Segura, Minister of Industry and Commerce at the beginning of Franco's dictatorship. Demetro Carceller y Arce (1962), his son, is a director and shareholder of Sacyr (6.04%), director of Gas Natural and chairman and shareholder, with 23% of the beer Estrella Damm. He is the president of the Disa oil plus shareholder of Natural Gas, Ebro and CLH.[126]
The longest highway in the world, the Pan-American Highway is 19,000 miles stretching from Alaska to Panama. The highway is interrupted in Panama in the province of the Darien Gap by 100 miles of swampland and thick forested jungles which is home to indigenous tribes. The highway continues on the Colombia side for another 11,000 miles ending in Ushuaia, Argentina.
An example of undisturbed, unique culture in Panama is that of the Guna who are known for molas. Mola is the Guna word for blouse, but the term mola has come to mean the elaborate embroidered panels made by Guna women, that make up the front and back of a Guna woman's blouse. They are several layers of cloth, varying in color, that are loosely stitched together, made using a reverse appliqué process.

Art collectors Marina Ruiz-Picasso and Borja Thyssen have Mossack Fonseca companies. Thyssen's lawyer said his company was fully declared to tax authorities and Ruiz-Picasso declined comment.[269] Other celebrities involved include Spanish director Pedro Almodóvar, who won an Oscar in 2003 for Habla con ella and with his brother Agustin created a company in 1991 called Glen Valley in the British Virgin Islands. Agustin responded saying he closed the company in 1994 and it paid all of its taxes.[270]


Panama is bounded to the north by the Caribbean Sea (an extension of the Atlantic Ocean) and to the south by the Pacific Ocean. It has an elongated S shape, with its Caribbean coastline stretching some 800 miles (1,290 km) and the Pacific coast some 1,060 miles (1,700 km); however, a line drawn from the Costa Rican frontier in the west to the Colombian border in the east would extend only 480 miles (770 km). The shortest distance across the isthmus is about 30 miles (50 km), from the mouth of the Nergalá (Necategua) River, which flows into the Gulf of San Blas on the Caribbean shore, to the mouth of the Chepo River on the Pacific coast. Nearly as narrow is the portion of the isthmus traversed by the Panama Canal.
Panama is a four-hour flight from Houston, eleven-and-a-half-hour flight from Paris, and a five-hour flight from Toronto making Panama easily accessible. Copa, Panama’s own airline flies to many of Caribbean destinations as well as flights to the United States. As Panama becomes more and more popular with travelers, Tocumen is adding new terminals and gates to allow airlines to establish new routes into the country.
The Panama Papers are documents that contain personal financial information about a number of wealthy individuals and public officials that had previously been kept private. Among those named in the leak were a dozen current or former world leaders, 128 other public officials, and politicians and hundreds of celebrities, business people and other rich individuals.
Leaked documents examined by the ABC "pierced the veil of anonymous shell companies" and linked a Sydney businessman and a Brisbane geologist to mining deals in North Korea.[489] "Rather than applying sanctions, the Australian Government and the ASX seem to have allowed a coach and horses to be ridden through them by the people involved in forming this relationship, corporate relationship with one of the primary arms manufacturers in North Korea," said Thomas Clark of the University of Technology Sydney.[489]
Because of incomplete Spanish control, the Panama route was vulnerable to attack from pirates (mostly Dutch and English), and from "new world" Africans called cimarrons who had freed themselves from enslavement and lived in communes or palenques around the Camino Real in Panama's Interior, and on some of the islands off Panama's Pacific coast. One such famous community amounted to a small kingdom under Bayano, which emerged in the 1552 to 1558. Sir Francis Drake's famous raids on Panama in 1572–73 and John Oxenham's crossing to the Pacific Ocean were aided by Panama cimarrons, and Spanish authorities were only able to bring them under control by making an alliance with them that guaranteed their freedom in exchange for military support in 1582.[20]
On April 8, a few hours after the publication of a new series of articles focusing on art hidden behind offshore companies, a prosecutor sequestered a Modigliani worth some $25 million at Geneva Freeport.[269][289] Litigation in New York alleged the painting had been stolen by Nazis during World War II; the defendants said they did not own it, but the leaked documents show that they control International Art Center, a shell company registered in Panama which does own it.[269]
You don't have to make it all the way to the Darién to get off the beaten path – though if you do, you've hit one of the most biodiverse spots on the planet. Go where the wild things are. Soak in the spray of towering waterfalls near highland Santa Fé. Visit one of Panama's seven indigenous groups through community tourism. Live out your castaway fantasies in the Guna Yala or idle on a wilderness beach in Península de Azuero. Howl back at the creatures sharing the canopy. Panama is as wild as you want it to be.
Former Secretary of State and 2016 Democratic presidential candidate Hillary Clinton condemned "outrageous tax havens and loopholes ... in Panama and elsewhere"[423] at a Pennsylvania AFL–CIO event. Clinton added that "some of this behavior is clearly against the law, and everyone who violates the law anywhere should be held accountable", but it was "scandalous how much is actually legal".[423] Clinton promised that "We are going after all these scams and make sure everyone pays their fair share here in America."[423]
Panama, Vanuatu and Lebanon may find themselves on a list of uncooperative tax havens that the Organisation for Economic Co-operation and Development (OECD) re-activated in July 2016 at the request of G20 nations, warned Le Monde, a French newspaper that participated in the investigation. Those three countries followed none of the OECD's three broad guidelines for international banking cooperation:[51]
A hearing on October 18, 2017 resulted in an indictment for Sharif,[365] who has faced allegations of corruption since the 1980s. The Panama Papers corroborated a federal inquiry in the mid-1990s and name both Nawaz Sharif and his younger brother, Punjab chief minister Shebaz Sharif. They also link in-laws of Shebaz Sharif and children of Nawaz Sharif to offshore companies.[366][364] Mossack Fonseca records tie Nawaz' daughter Maryam Nawaz and her brothers Hussein and Hassan to four offshore companies, Nescoll Limited, Nielson Holdings Limited, Coomber Group Inc., and Hangon Property Holdings Limited.[367] The companies acquired luxury real estate in London during 2006–2007. The real estate was collateral for loans of up to $13.8 million, according to the Panama Papers.[368] The prime minister's children say the money came from the sale of a family business in Saudi Arabia.[368] But these offshore companies and assets were not disclosed on his family's wealth statement and the suspicion that the companies were meant to hide or launder ill-gotten wealth or to avoid taxes called Sharif's ethics into question.[364]

Khulubuse Zuma, nephew of South African President Jacob Zuma, has links in the documents to an offshore company with oil interests in the Democratic Republic of the Congo. He has denied any wrongdoing.[441] According to leaked documents President Zuma also has ties to an oil mining deal between a British Virgin Islands-based oil company, Caprikat Limited, and Joseph Kabila, President of the Democratic Republic of Congo (DRC), and helped Caprikat obtain oil fields in the DRC then sent his nephew to the DRC to run the firm.[442]
Minister of Industry and Mines Abdeslam Bouchouareb has been sole owner of a Panamanian-registered offshore company known as Royal Arrival Corp since 2015. The company, active in Turkey, Great Britain and Algeria, is managed through Compagnie d'Etude et de Conseil (CEC), based in Luxembourg, and has an account in the Swiss NBAD Private Bank. CEC confirmed the ownership of Royal Arrival and said it managed the minister's inherited assets with transparency.[438]
Two years after the Panama Papers rocked the offshore financial system, a fresh document leak from Panamanian law firm Mossack Fonseca reveals new financial details about an array of global elites, including soccer superstar Lionel Messi, the family of the Argentine president, and a former senior Kuwaiti official convicted of looting his country’s social security system.
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]

Featuring 27 miles of white sand beaches along the turquoise waters of the Gulf of Mexico, Panama City Beach is home to two State Parks, dozens of public beach access points, waterfront restaurants that serve up fresh local seafood, and legendary attractions.  The waters at Panama City Beach are famous with fishermen and scuba divers who enjoy the benefits of dozens artificial reefs located offshore, and with a coastline that angles slightly toward the west, in Panama City Beach you can watch the sunset over the Gulf of Mexico every day of the year.
Real estate in London, where housing prices increased 50% from 2007 to 2016, also is frequently purchased by overseas investors.[43][44][45] Donald Toon, head of Britain's National Crime Agency, said in 2015 that "the London property market has been skewed by laundered money. Prices are being artificially driven up by overseas criminals who want to sequester their assets here in the UK".[45] Three quarters of Londoners under 35 cannot afford to buy a home.[45]
Perez Balladares ran as the candidate for a three-party coalition dominated by the Democratic Revolutionary Party (PRD), the erstwhile political arm of military dictatorships. Perez Balladares worked skillfully during the campaign to rehabilitate the PRD's image, emphasizing the party's populist Torrijos roots rather than its association with Noriega. He won the election with only 33 percent of the vote when the major non-PRD forces splintered into competing factions. His administration carried out economic reforms and often worked closely with the US on implementation of the Canal treaties.[citation needed]
According to Forbes, "Hinojosa and other prominent Mexicans, mostly businessmen with close ties to the government, including at least one member of the Forbes billionaires list, were the subject of extensive articles published online by ICIJ investigation partners Proceso and Aristegui Noticias Sunday."[410] Proceso also said that the Mexicans mentioned in the leaked documents included individuals linked to drug cartels.[408]
The city of Panama is still a banking center, although with very visible controls in the flow of cash. Shipping is handled through port facilities in the area of Balboa operated by the Hutchison Whampoa Company of Hong Kong and through several ports on the Caribbean side of the isthmus. Balboa, which is located within the greater Panama metropolitan area, was formerly part of the Panama Canal Zone, and the administration of the former Panama Canal Zone was headquartered there.

No matter what kind of Panama City Beach vacation you're dreaming about, we've got you covered. Panama City Beach, named the top 3 beach in the United States by TripAdvisor, has 27-miles of beautiful beaches to choose from and you'll find a different experience at each stop along the way. Explore as much of PCB as you can. If you love long walks along the beach, you won't find a better beach for it!
The Panamanian currency is officially the balboa, fixed at a rate of 1:1 with the United States dollar since Panamanian independence in 1903. In practice, Panama is dollarized: U.S. dollars are legal tender and used for all paper currency, and whilst Panama has its own coinage, U.S. coins are widely used. Because of the tie to US dollars, Panama has traditionally had low inflation. According to the Economic Commission for Latin America and the Caribbean, Panama's inflation in 2006 was 2.0 percent as measured by a weighted Consumer Price Index.[68]
In 1744, Bishop Francisco Javier de Luna Victoria DeCastro established the College of San Ignacio de Loyola and on June 3, 1749, founded La Real y Pontificia Universidad de San Javier. By this time, however, Panama's importance and influence had become insignificant as Spain's power dwindled in Europe and advances in navigation technique increasingly permitted ships to round Cape Horn in order to reach the Pacific. While the Panama route was short it was also labor-intensive and expensive because of the loading and unloading and laden-down trek required to get from the one coast to the other.
Panamá Viejo ("Old Panama")[27] is the name used for the architectural vestiges of the Monumental Historic Complex of the first Spanish city founded on the Pacific coast of the Americas by Pedro Arias de Avila on August 15, 1519. This city was the starting point for the expeditions that conquered the Inca Empire in Peru in 1532. It was a stopover point on one of the most important trade routes in the history of the American continent, leading to the famous fairs of Nombre de Dios and Portobelo, where most of the gold and silver that Spain took from the Americas passed through.[28]
The Panama Papers is a documentary that portrays the history of the global leak that involved a now infamous legal services company based in Panama, and its activities involved in setting up offshore shell companies to help celebrities, politicians and powerful figures from around the globe, in avoiding taxes, money laundering, and other financial crimes. This issue, of global relevance since it involves sistemic corruption in the global financial system and most countries around the world, was, however, poorly explained in this movie.
Casco Antiguo displays a mix of architectural styles that reflect the country's cultural diversity: Caribbean, Republican, art deco, French, and colonial architecture mix in a site comprising around 800 buildings. Most of Panama City's main monuments are located in Casco Antiguo, including the Salón Bolivar, the National Theater (founded in 1908), Las Bóvedas, and Plaza de Francia. There are also many Catholic buildings, such as the Metropolitan Cathedral, the La Merced Church, and the St. Philip Neri Church. The distinctive golden altar at St. Joseph Church was one of the few items saved from Panama Viejo during the 1671 pirate siege. It was buried in mud during the siege and then secretly transported to its present location.
President of the Nigerian Senate Bukola Saraki was found, through the Panama Papers leak, to have ties to at least four offshore companies he failed to declare to the Code of Conduct Bureau as Nigerian law requires.[463] His wife Toyin also had shell companies listed in her name in the Mossack Fonseca documents:[463] Girol Properties Ltd, Sandon Development Limited and *Landfield International Developments Ltd. Saraki has said that the assets in these holding companies belong to his wife's family and therefore he was not required to report them. ANCIR dismisses this because:

While no standard official definition exists, The Economist and the International Monetary Fund describe an offshore financial center, or tax haven, as a jurisdiction whose banking infrastructure primarily provides services to people or businesses who do not live there, requires little or no disclosure of information when doing business, and offers low taxes.[32][33]
As the United Kingdom still exercises varying degrees of control over British Overseas Territories and Crown dependencies which make up a large number of the many tax havens and "secrecy jurisdictions" that exist, pressure mounted on Prime Minister David Cameron to make changes.[306][307] According to The Wall Street Journal, the Panama Papers "are shining a light on the constellation of offshore centers in the last remnants of the British Empire, from Gibraltar to the British Virgin Islands (BVI)."[306] Of the companies created by Mossack Fonseca which were included in the leaked data, the BVI companies topped the list, with 113,000 of the nearly 215,000 companies that Mossack Fonseca managed or incorporated there. British Overseas Territory Anguilla was 7th on the list.[308]
A project to build a third set of locks for the Panama Canal A was overwhelmingly approved in a referendum (with low voter turnout, however) on October 22, 2006. The official estimated cost of the project is US$5.25 billion, but the canal is of major economic importance because it provides millions of dollars of toll revenue to the national economy and provides massive employment. Transfer of control of the Canal to the Panamanian government completed in 1999, after 85 years of US control.
Relatives of highly placed Chinese officials including seven current and former senior leaders of the Politburo of the Communist Party of China have been named, including former Premier Li Peng's daughter Li Xiaolin, former Communist Party general secretary Hu Yaobang's son Hu Dehua and Deng Jiagui, the brother-in-law of current general secretary Xi Jinping. Deng had two shell companies in the British Virgin Islands while Xi was a member of the Politburo Standing Committee, but they were dormant by the time Xi became General Secretary of the Communist Party (paramount leader) in November 2012. Others named include the son and daughter-in-law of propaganda chief Liu Yunshan and the son-in-law of Vice-Premier Zhang Gaoli.[338]

Mossack Fonseca's Hong Kong office was its busiest, says the ICIJ, as Chinese officials and other wealthy figures would carry funds across the border and deposit them there to be channeled to offshore entities.[28] Hong Kong invested HK$4.6 trillion (£360 billion) into the BVI – more than Hong Kong invested in mainland China – and received HK$4.1 trillion (over £300 billion) from the BVI. A further £20 billion or so was placed into the Cayman Islands and Bermuda individually.[339]
King Salman is mentioned in the leaks in relation to two companies based in the British Virgin Islands—Verse Development Corporation, incorporated in 1999, and Inrow Corporation, incorporated in 2002. The companies took out mortgages totaling over US$34 million and purchased properties in central London.[376] His role in the companies was not specified. BVI company Crassus Limited, incorporated in 2004, registered a yacht in London, named Erga after King Salman's palace in Riyadh. The vessel boasts a banquet hall and can comfortably sleep 30.[292] King Salman is described in the documents as its "principal user".[377]
The Pacific coastline is extended by the Azuero Peninsula and the Gulf of Panama and by numerous headlands and bays, whereas the largest embayment on the Caribbean side is Chiriquí Lagoon. The Pacific coastline is more indented and irregular, and its continental shelf is much wider than that on the Atlantic side. In addition, most of the republic’s more than 1,600 islands lie off its Pacific coast; they include the Perlas Archipelago (Pearl Islands) and the islands of Taboga, Cébaco, Parida, Jicarón, and Coiba, the largest. The principal archipelagoes off the Caribbean coast are those of Bocas del Toro and San Blas.
What is there not to like about PCB? Every condo/hotel that I have stayed in has been amazing! All with a beach view I might add. My favorite places to eat are the All American Diner and breakfast, lunch, or dinner! They have good food and nice friendly staff every single time. And my other favorite is Sharky's Beachfront Restaurant! SHEESH! The food and the drinks are delicious and reasonably priced for a tourist town and the portions are huge! Panama City Beach is my favorite place to visit!

In Panama, nature is all about discovery. Explore the ruins of Spanish forts on the Caribbean coast or boat deep into indigenous territories in a dugout canoe. Wildlife is incidental: a resplendent quetzal on the highland trail, an unruly troupe of screeching howler monkeys outside your cabin or a breaching whale that turns your ferry ride into an adrenaline-filled event. Adventure tourism means zipping through rainforest canopies, swimming alongside sea turtles or trekking to sublime cloud-forest vistas. One small tropical country with two long coasts makes for a pretty big playground.
The US intent to influence the area, especially the Panama Canal's construction and control, led to the separation of Panama from Colombia in 1903 and its establishment as a nation. When the Senate of Colombia rejected the Hay–Herrán Treaty on January 22, 1903, the United States decided to support and encourage the Panamanian separatist movement[24][22]

Of Panama’s many short rivers, those that flow to the Caribbean include the Sixaola, Changuinola, Indio, Cricamola, La Miel, and Chagres. Rivers flowing to the Pacific include the Chiriquí Viejo, Santa María, Chepo, Chucunaque, and Tuira. During the rainy season the Tuira is navigable for some 40 miles (60 km) and the Chepo for 20 miles (30 km). Water in the Panama Canal does not flow from coast to coast; rather, it is released from the rain-fed Gatún and Alajuela (Madden) lakes in the central highlands. In effect, the water flows to both coasts simultaneously via the canal’s system of locks and dams. For details on the engineering and operation of the waterway, see Panama Canal.


Perez Balladares ran as the candidate for a three-party coalition dominated by the Democratic Revolutionary Party (PRD), the erstwhile political arm of military dictatorships. Perez Balladares worked skillfully during the campaign to rehabilitate the PRD's image, emphasizing the party's populist Torrijos roots rather than its association with Noriega. He won the election with only 33 percent of the vote when the major non-PRD forces splintered into competing factions. His administration carried out economic reforms and often worked closely with the US on implementation of the Canal treaties.[citation needed]

Data security experts noted, however, that the company had not been encrypting its emails[60] and furthermore seemed to have been running a three-year-old version of Drupal with several known vulnerabilities.[60] According to James Sanders of TechRepublic, Drupal ran on the Apache 2.2.15 version from March 6, 2010, and worse, the Oracle fork of Apache, which by default allows users to view directory structure.[69]
A screenshot showed that authorities had forced all websites to delete content about the Panama Papers.[342] Foreign websites such as WikiLeaks and China Digital Times are blocked from mainland China. On Sina Weibo, a Twitter-like social media website, censors deleted content about the Panama Paper. However, the name of Xi's brother-in-law got through, and Weibo users tried to circumvent them with less obvious language such as "brother-in-law", "Canal Papers" (for the Panama Canal), and so on.[343] Despite the censorship, Weibo search ranking was topped by phrases seemingly related to the Panama Papers, such as "tax evasion", "document", "leak" and "Putin".[344]
For over 300 years, the Spanish ruled Panama. Struggles to gain control of many of the Central American countries continued for decades. In 1821, Panama gained independence from Spain only to join what was then Colombia later that same year. In 1846, a treaty between Colombia and the United States was signed, permitting the U.S. to construct a railway across the country.
Since the end of the 20th century, association football has become more popular in Panama.[citation needed] The top tier of domestic Panamanian football, Liga Panameña de Fútbol, was founded in 1988. The national team appeared at the FIFA World Cup for the first time in 2018, appearing in group G, facing Belgium, England and Tunisia. However, the team lost all three games, failing to advance past the group stage. Notable players for the national team include Luis Ernesto Tapia, Rommel Fernández, the Dely Valdés Brothers: Armando, Julio and Jorge; and more recent players as Jaime Penedo, Felipe Baloy, Luis Tejada, Blas Pérez, Román Torres and Harold Cummings.
In 2015, Süddeutsche Zeitung (SZ) was contacted by an anonymous source calling him or herself "John Doe," who offered to leak the documents. Doe did not demand any financial compensation in return, according to the SZ. The total volume of data comes to about 2.76 terabytes, making it the biggest data leak in history. The data pertains to the period spanning from the 1970s to the spring of 2016. 

The current wife of former prime minister of Spain Felipe González, María García Vaquero, opened an account in Switzerland for Carmingo Ltd in 2004 in the tax haven of Niue, an island in the South Pacific.[263] The lawyer Cándido Conde-Pumpido Jr., son of former General Prosecutor of Spain and magistrate of the Supreme Court of Spain, Cándido Conde-Pumpido, asked to open a Mossack Fonseca offshore company in 2008, though the transaction wasn't completed[why?]. He had intended the offshore company to be an intermediary in a project to build a skyscraper in the capital of Panama, not to hide money.[264]
United States President Ronald Reagan began a series of sanctions against the military regime. The United States froze economic and military assistance to Panama in the middle of 1987 in response to the domestic political crisis in Panama and an attack on the US embassy. These sanctions did little to overthrow Noriega, but severely damaged Panama's economy. The sanctions hit the Panamanian population hard and caused the Gross Domestic Product (GDP) to decline almost 25 percent between 1987 and 1989 (see Acosta n.p.).[32]

Panama's old quarter (or Casco Viejo, Panama) features many architectural styles, from Spanish colonial buildings to French and Antillean townhouses built during the construction of the Panama Canal.[10] The more modern areas of the city have many high-rise buildings, which together form a very dense skyline. There are more than 110 high-rise projects under construction, with 127 already built.[11] The city holds the 45th place in the world by high-rise buildings count.[12]
Climatic regions are determined less on the basis of temperature than on rainfall, which varies regionally from less than 1,300 millimeters (51.2 in) to more than 3,000 millimeters (118.1 in) per year. Almost all of the rain falls during the rainy season, which is usually from April to December, but varies in length from seven to nine months. In general, rainfall is much heavier on the Caribbean than on the Pacific side of the continental divide. The annual average in Panama City is little more than half of that in Colón. Although rainy-season thunderstorms are common, the country is outside the hurricane belt.
Mossack Fonseca documents provide new insight and confirmation for a previously-litigated tax case where an offshore company transferred its registration to avoid paying capital gains tax in Uganda.[482] The documents show that Heritage Oil and Gas Limited (HOGL) knew in advance of a capital gains tax that Uganda planned to enact. HOGL was then operating in Uganda and planned to sell half its Ugandan assets. It "urgently"[483] moved its registration from the Bahamas to Mauritius to avoid the tax.[482] Mauritius has a double taxation agreement with Uganda, meaning that HOGL would pay tax in only one of the two countries.[482] But Mauritius does not have a capital gains tax, so by moving there Heritage reduced its capital gains tax to zero.[484] Emails clearly show that this was the reason for the transfer, although company attorneys deny it.[482]
Computer security expert Chris Kubecka announced May 24, 2016 that the Mossack Fonseca client login portal was running four different government grade remote access trojans (RATs). Kubecka confirmed there were still numerous critical vulnerabilities, too many open ports into their infrastructure and internet access to their archive server due to weak security.[74] Kubecka explained how each data security issue was discovered in detail in a full-length book titled Down the Rabbit Hole: An OSINT Journey.[75]
The leaked documents indicate that about US$2 trillion has passed through the firm's hands.[110] Several of the holding companies that appear in the documents did business with sanctioned entities, such as arms merchants and relatives of dictators, while the sanctions were in place. The firm provided services to a Seychelles company named Pangates International, which the US government believes supplied aviation fuel to the Syrian government during the current civil war, and continued to handle its paperwork and certify it as a company in good standing, despite sanctions, until August 2015.[101]

Since Panama's cultural heritage is influenced by many ethnicities the traditional cuisine of the country includes ingredients from many cultures, from all over the world:[87] a mix of African, Spanish, and Native American techniques, dishes, and ingredients, reflecting its diverse population. Since Panama is a land bridge between two continents, it has a large variety of tropical fruits, vegetables and herbs that are used in native cooking. The famous fish market known as the "Mercado de Mariscos" offers fresh seafood and Ceviche, a seafood dish. Small shops along the street which are called kiosco and Empanada, which is a typical latinamerican pastry, including a variety of different ingredients, either with meat or vegetarian, mostly fried. Another kind of pastry is the pastelito, with the only difference in comparison to empanadas is that they are bigger.[citation needed]


On October 22, 2016, in the midst of a state visit to Germany, Varela told journalist Jenny Pérez, of Deutsche Welle that there had been "progress" in transparency and many agreements to exchange tax information, and that tax evasion was a global problem. Asked about his ties with Ramón Fonseca Mora, managing partner of the firm Mossack Fonseca, he acknowledged that he is a friend.[145]

The Panama Papers are documents that contain personal financial information about a number of wealthy individuals and public officials that had previously been kept private. Among those named in the leak were a dozen current or former world leaders, 128 other public officials, and politicians and hundreds of celebrities, business people and other rich individuals.


Former President Ahmed al-Mirghani surfaced as a client of Mossack Fonseca.[454] Al-Mirghani, who was president from 1986 to 1989, created Orange Star Corporation in the British Virgin Islands through the Panama firm in 1995, when he was living in Egypt after the coup that ended his presidency. He was active in the Democratic Unionist Party there.[454] Orange Star Corporation bought a long-term lease in a tony London neighborhood near Hyde Park for $600,000 the same year al-Mirghani created it, and at the time of his death held assets worth $2.72 million.[454]
According to the Panama Papers, Zimplats Holdings, a large platinum mining concern, set up a shell company to pay the salaries of its senior managers. Zimplats denies knowledge of the company, HR Consultancy.[485] The company, which was still active in 2015, was unknown to the Reserve Bank of Zimbabwe,[485] which may indicate externalization of funds and tax evasion if, as it appears, the salaries were for citizens of Zimbabwe performing work in Zimbabwe.[485]

The ICIJ investigation traces out many levels of offshore holdings in multiple countries related to the business dealings of Beny Steinmetz, with many serious findings such as a request that Mossack Fonseca backdate the revocation of a power of attorney.[18] Mossack Fonseca records show that Sierra Leone diamond exporter Octea, based in the British Virgin Islands with the Steinmetz family as its beneficiaries, is wholly owned by Guernsey-based BSGR Resources, linked to a bribery scandal in Guinea. Foundations in Switzerland and Liechtenstein, among them Nysco and Balda, own BSGR. In 2007, one of Nysco's bank accounts contained $27.7 million.

Back in the 1940s, Coronado was just a few sleepy ranches alongside an unspoiled stretch of blue Pacific and black-and-white speckled beaches. However, Coronado is now a highly popular beach town on the Pacific coast of Panama. Located an hour from Panama City, it is on the ‘Arco Seco’ (‘dry arch’) stretch of coastline, so Read more...: Coronado, Panama


Prime Minister Ayad Allawi, a former vice president of Iraq, owned property through Mossack Fonseca shell companies registered in Panama and the British Virgin Islands, for security reasons following an assassination attempt, according to his spokesperson, who added that any income from the properties was reported and taxes paid "promptly and on time."[87]
The Church of Jesus Christ of Latter-day Saints (LDS Church) claims more than 40,000 members.[80] Smaller religious groups include Seventh-day Adventists, Jehovah's Witnesses, Episcopalians with between 7,000 and 10,000 members, Jewish and Muslim communities with approximately 10,000 members each, Hindus, Buddhists, and other Christians.[81] Indigenous religions include Ibeorgun (among Kuna) and Mamatata (among Ngäbe).[81] There are also a small number of Rastafarians.[81]
Since the end of the 20th century, association football has become more popular in Panama.[citation needed] The top tier of domestic Panamanian football, Liga Panameña de Fútbol, was founded in 1988. The national team appeared at the FIFA World Cup for the first time in 2018, appearing in group G, facing Belgium, England and Tunisia. However, the team lost all three games, failing to advance past the group stage. Notable players for the national team include Luis Ernesto Tapia, Rommel Fernández, the Dely Valdés Brothers: Armando, Julio and Jorge; and more recent players as Jaime Penedo, Felipe Baloy, Luis Tejada, Blas Pérez, Román Torres and Harold Cummings. 
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