Panama

Despite reduced ship traffic due to drought, the Panama Canal achieved record revenues of nearly US$5 billion in the 2024 fiscal year, up 1% from the previous year, attributed to higher tolls and priority crossing auctions

Due to severe drought, vessel transit through the Panama Canal dropped by 29% in 2024, as reduced rainfall lowered water levels in the canal’s artificial lakes, cutting daily ship passages from 38 to 22

Seeking support from France in removing Panama from tax haven blacklists, including one by the European Union, the country continues to rebuild its image after the 2016 "Panama Papers" scandal

Panama City commissioners declared a 72-hour state of emergency due to Hurricane Helene, with the option to extend it, allowing officials to enhance storm preparedness, track resources, and ensure a swift response if the storm intensifies

As water levels are critically low, Panama is currently exploring costly and ambitious solutions, including creating an artificial lake and using artificial rain to combat the severe drought affecting the Panama Canal

Panama deported 130 Indian migrants to New Delhi under a US backed repatriation deal; these migrants entered Panama through the dangerous Darien jungle, marking the first deportation outside the Americas under the agreement

President José Raúl Mulino has requested Costa Rica's support in helping Panama exit the OECD's tax haven lists, as Costa Rica prepares to assume the OECD presidency in 2025, aiming to improve Panama's international reputation and economic standing

Panamanian authorities dismantled a criminal organization involved in trafficking migrants through the Darien jungle, arresting numerous individuals; the group used a "VIP route," a safer and expensive path to transport migrants illegally to the US

Panama denounced Venezuela for blocking an aircraft carrying former Panamanian presidents, preventing them from attending Venezuela's upcoming presidential elections thus raising concerns over the transparency and integrity of the electoral process

Mayor Mayer Mizrachi offered a week-long free stay in Panama to tourists affected by anti-tourism protests in Barcelona, aiming to attract visitors and showcase Panama’s attractions

The Panamanian government, aiming to control irregular migration, closed three unauthorized border crossings, redirecting migrants to a single monitored route, while collaborating with the US on a pilot program to repatriate migrants humanely

The Panama Canal has raised the maximum authorized draught to 14,33 meters and increased daily transits to 35 ships to improve scheduling flexibility and reduce congestion