The Family of the Family part II
Panama
eyesonbrasil
Amsterdam, April 1st 2025–The Government of Panama has extended a safe-conduct for former President Ricardo Martinelli (2009-2014), currently sheltering in the Nicaraguan Embassy since Feb. 2024 after being sentenced to 10 years in prison and fined US$ 19.2 million for money laundering.
Initially, Martinelli was granted a safe-conduct on March 27, valid until midnight on March 31, following Nicaragua’s decision to offer him asylum. However, confusion arose when Panama requested an Interpol red notice against him, which was turned down as inappropriate.
”The National Government has decided to extend the validity of the safe-conduct for an additional period of seventy-two (72) hours, until the end of Thursday, April 3, 2025,” the Foreign Ministry said in a statement. The original permit expired Monday at midnight local time (05h00 GMT Tuesday).
Panama has been designated as a high-risk country by the FATF. This indicates an increased likelihood of facilitating money laundering and terrorist financing. Panama is known as a region with significant risks, particularly due to the lack of strict anti-money laundering and counter-terrorism financing legislation. This creates an environment where criminals have more opportunities to conceal their illegal activities and operate within legitimate business structures. Conducting business transactions with individuals or companies from Panama requires businesses to be extremely vigilant and take appropriate precautionary measures to ensure a secure business environment.
Possible Risks When Doing Business in Panama
Doing business in Panama carries several potential risks that must be taken seriously. A major risk is the lack of strict regulation and enforcement against money laundering and terrorist financing. This creates an environment where criminals have the opportunity to conceal their illegal activities and operate within legitimate business entities. This can result in legal complications and reputational damage for companies that inadvertently become involved in such activities.
Additionally, there is the risk of political and economic instability in Panama, which can affect the business environment. Changes in policy, legislation, and government measures can impact business operations and investments. Furthermore, issues with corruption, bureaucracy, and transparency can hinder the efficiency of business transactions and increase costs.
The country’s financial situation can also pose a risk, with fluctuations in exchange rates, inflation, and economic uncertainty affecting businesses dependent on international trade. Limited access to financial services and infrastructural challenges can present additional obstacles.
Nicaragua accused Panama of setting a “trap” or “ambush” and suspended Martinelli’s planned departure on March 31, demanding clarification. In response, Panama extended the safe-conduct by 72 hours, until April 3, 2025, to facilitate his travel, stating that the Executive Branch has the authority to grant it, with no objections from the Supreme Court.
Meanwhile Nicaragua has criticized Panama’s actions as politically motivated, while Martinelli, maintaining his innocence, awaits an agreement between the two governments to ensure his safe departure. The situation remains fluid as both nations communicate to resolve the issue.
“In addition, the Supreme Court of Justice, as the highest authority of the Judiciary, has stated this afternoon that it has no objections, since it is a power attributed to the Executive Branch, outside the jurisdiction of the Judiciary,” the Foreign Ministry’s note also mentioned.
”Taking into account unforeseen causes and the need to have a reasonable term for the execution of the transfer, the National Government has decided to extend the validity of the safe-conduct for an additional term of seventy-two (72) hours, until the end of Thursday, April 3, 2025,“ it added
The Nicaraguan Sandinista Administration accused Panama of seeking to cause an international conflict: ”We therefore denounce the absurd positions and attitudes of the Panamanian authorities, which they should amend immediately, placing themselves at the side of political and humanist correctness,“ Managua said in a communiqué.
”I am totally innocent,“ Martinelli, 73, wrote on social media. ”Now, they give me this surprise that we are analyzing to see what decision we make,” he also pointed out.
Martinelli, who was convicted for the purchase of media outlets with public funds in addition to money laundering, claimed political persecution. He has another trial pending for alleged bribes from the construction company Odebrecht.
