Monday 21 June 2021

Panama’s New President Said He Found A Country In Economic Disaster and Mired in Graft

When Panama President Laurentino Nito Cortizo took over the reins of the country he found a disaster in public finances, a disorganized administration, with an unprecedented corruption record.

Panama President Laurentino Nito Cortizo

In his first report to the National Assembly on Thursday, January Cortizo,  Newsroom Panama reported, the president said, “In the last 10 years, Panama’s debt, that of all Panamanians tripled, from $11 billion to more than $30 billion. This amounts to a debt of $22,300 per household.”

- Advertisement -

Cortizo faces tough challenges in Panama in 2020 that include: the debt of the non-financial public sector which reached the historically high figure of $30.4 billion in November of last year, a slowdown in economic growth, high unemployment and a decrease in foreign direct investment.

- Advertisement -

FACT CHECK:
We strive for accuracy in its reports. But if you see something that doesn’t look right, send us an email. The Q reviews and updates its content regularly to ensure it’s accuracy.

Related Articles

OIJ investigation into road works corruption leads to inquiries in Panama

QCOSTARICA - The prestige of the company of some of the...

Which countries could follow El Salvador by making it legal tender?

Q24N - El Salvador may be the first country to adopt...

MOST READ

Will that be Cash or Sinpe Móvil?

QCOSTARICA - Sinpe Móvil is easy to use. From your phone, you can send money to friends, family and pay for things. Or receive...

Today’s Vehicle Restriction June 21: plates ending in 1 & 2 CANNOT circulate

Today, Monday, June 21, we are back to the two plates that cannot circulate, in today's case plates ending in 1 & 2 CANNOT...

“Caso Cochinilla”: Name arose when comparing parasite with hidden corruption

QCOSTARICA - On Monday, the Organismo de Investigacion Judicial (OIJ) moved to the raid, seize and arrest of their investigation into corruption of public...

Week immersed in passage of tropical wave, June Solstice and Veranillo

QCOSTARICA - Today, Monday, June 21, is the day of the year when the sun stays the longest on the horizon, therefore it is...

Lack of space on Racsa’s hard drive paralyzed immigration consultation at the airport this Monday

RICO's DIGEST - We've all had this happen, your computer's hard drive is full and your computer crashes. But we are not the Radiográfica...

College of Physicians negotiates donation of a million and a half vaccines against covid-19

QCOSTARICA - This week there could be very good news for the country in the fight against the coronavirus pandemic if the College of...

The Best Sports To Play On A Beach

Costa Rica has some of the best beaches in the world. The coastline is blessed with golden sand, beautiful palm trees, and perfect blue...

Today’s Vehicle Restriction June 16: 5 & 6 CANNOT circulate

Today, Wednesday, June 16, vehicles with plates ending 5 & 6 CANNOT circulate The measure is countrywide and applied between 5:00 am and 9:00 pm,...

American woman found lifeless in hotel bathroom in Sabana

QCOSTARICA - A sad discovery occurred this Thursday morning in a hotel located in La Sabana, in San José, the lifeless body of a...

WANT TO STAY UP TO DATE WITH THE LATEST!

Get our daily newsletter with the latest posts directly in your mailbox. Click on the subscribe and fill out the form. It's that simple!

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.