Panama

Despite handling less cargo due to drought and transit restrictions, Panama Canal's revenues surged by 14,9% to US$4,97 billion in 2023; the Panama Canal Authority attributes the rise to the tolls system implemented in January 2023

Local environmentalists have criticized the government for its inaction in closing the copper mine operated by Minera Panamá, emphasizing that it is putting the area at risk and increasing the country's vulnerability to international arbitrations

The National Migration Service of Panama predicted a 20% increase in irregular migration through the dangerous Darien jungle in 2024, with over 40.000 individuals already crossing this year

The Panama Canal has appointed its first-ever Chief Sustainability Officer, Deputy Administrator Ilya Espino de Marotta, who will lead the waterway's environmental sustainability efforts, focusing on decarbonization, adaptation, and transition

The country’s severe drought has caused shippings in the Panama Canal to drop by approximately 36%

Panamanian and Costa Rican police forces joined together on December 24 and 25 to bring joy to children in the southern border by sharing food, gifts, piñatas and games, fostering a sense of fraternity between the two nations during the Christmas season

Panama initiated the "ordered closure" of Cobre-Panama, the largest Central American mine, following the Supreme Court's ruling of its activities as unconstitutional due to its environment harm, impacting the economy and leading to employee layoffs

In a record-breaking surge, over 500.000 migrants, predominantly Venezuelans, have crossed the Darien jungle from Colombia to Panama this year, double the 2022 figure, prompting the Panamanian government to establish aid centers

Protests over a controversial mining contract persist, having caused nationwide disruption for weeks; the contract, allowing open-pit copper mining for two decades, faces opposition due to environmental and health concerns

The World Bank's executive board approved a US$40 million project aimed at enhancing fiscal sustainability and expenditure efficiency in Panama over five years, focusing on bolstering public service effectiveness through improved information systems

Due to a severe drought causing the Panama Canal to dramatically reduce booking slots, several oil tankers could cease to use the canal, with booking slots decreasing to just 18 by February 2024

Following protests against the government's contract with Minera Panamá for copper mining, Panamanian President Laurentino Cortizo signed a decree prohibiting the granting of new mining concessions and rejecting pending requests