(MENAFN-Panama Newsroom)

Foreign Minister Erika Moynes, in an interview with Bloomberg at the New Economy Gateway Latin America conference recently held in Panama City, gave the answer that many of us have been emphatically wanting to hear. and constant from a government official writes Sure Pierpoint Director of the Liberty Foundation in La Prensa.

Asked about Panama’s international reputation for money laundering, the Chancellor replied: “(…) For years, Panama continued to be referred to as a sort of tax haven. Attention is diverted… A report came out yesterday [ fsi.taxjustice.net] and Panama isn’t even in the top 15, but I’ll tell you which countries are at the top of the list of the biggest tax havens: the United States, the United Kingdom, Japan, Germany, all the G7 countries. Do you know how many of these countries are on the gray list of financial regulators? None! It’s interesting how Panama gets blamed when we’re not the problem, but other countries that have been singled out for financial secrecy don’t suffer the consequences.”

Cheer! It’s time to take advantage of all the stands within our reach to shout it from the rooftops: Look what the pan said to the boiler!

Panama is a small country that has suffered attacks from major powers, including the Organization for Economic Co-operation and Development (OECD), in terms of our tax system and the territoriality of income for the calculation of income taxes. From our special regimes, we take advantage of our geographical position to attract foreign direct investment. These multinational companies, which, attracted by visionary legislation, settle in our country, generating thousands of well-paid jobs for Panamanians, who in turn acquire knowledge and skills, increasing our competitive advantages. In this post-covid era, it becomes even more urgent to put in place public policies that allow us to regain the employment rates that we enjoyed in 2019.

In its March 2022 report, the FATF gives Panama an ultimatum, demanding compliance with the action plan that expired in January 2021 and “strongly” recommends that Panama show meaningful progress in completing its action plan. action by June 2022. , announced as a possible consequence the instruction to its members to apply enhanced due diligence to all relationships and transactions with Panama.

With this, the FATF is once again showing its teeth despite the enormous efforts of multiple administrations to satisfy the demands of the representatives of these multilateral organizations.

June starts this week. These multilateral organizations have already warned us of what lies ahead. Can we expect as forceful a response as we have heard recently from the Chancellor or will we again be at the mercy of the punishments of the multilaterals who see the speck in the eye of the other and not the beam in theirs? We will know soon.

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