President Is Paid His One Dollar

President Ricardo Martinelli has transparently published his $1 check on the National Government’s website. The Panamanian multi-millionaire president donates the rest of his $7,000 ($5,421 after taxes) monthly salary to charity. Mayor Michael Bloomberg of New York City, whose net worth is $16 billion, popularized symbolic renumeration by accepting $1 of his annual $195,000 salary.…

Government Launches Second Phase of Bay Clean Up

The government initiated the second phase of the Panama Bay clean-up project today which includes building a sewage interceptor system and a treatment plant in a network that will stretch from Casco Viejo to Tocumen Airport. For decades, Panama has been depositing 140 million gallons of untreated wastewater daily into the bay which smells of…

Shameless Pollution of Stream with Refrigerators and Stoves

After a $5,000 clean up, residents near the Vergüenza stream in the province of Chiriqui continue to toss contaminating garbage into the stream.  The private company charged with the clean up found pillows, refrigerators, and stoves among the items disposed of.  Six months later the stream is dirty again and the authorities will have to…

Multilateral Parliaments and Bilateral Agreements in Town

The Euro-Latin American Parliamentary Assembly opens tomorrow in Panama City to discuss the state of commercial negotiations between the European Union and Latin America, including job creation for women and youth as well and issues of security and defense. Also to be addressed during the two-day session are the frozen negotiations between Central America and the…

Agitated Panama Port Workers Promised Benefits

More than 50 irritated former Panama Port workers gathered in front of the Presidency today to demand more than $100 million in salary benefits promised by the Martinelli campaign. In July, workers last struck in front of the Balboa port seeking reinstitution of their jobs. Seventy workers were fired for attempting to create syndicates independent…

Debt Package for Oil Pipeline Expansion

The Petroterminal de Panama oil pipeline and storage project has received a $480 million refinancing and expansion debt package led by HSBC, EDC, Banco General, BNP Paribas and Banco Nacional de Chile. Petroterminal set up base in Panama in September of 1977 to facilitate the transport of Alaskan North Slope Crude oil surplus to the…