Central America
Panamanian president consults attorney general to repeal mining contract
November 17 |
The President of Panama, Laurentino Cortizo, announced Thursday that a consultation was made to the Attorney General of the Administration, Rigoberto Gonzalez, on the legal feasibility of repealing Law 406 that contains the contract between the Panamanian State and Minera Panama.
“In relation to the request for the repeal of Law 406 presented to the Executive on November 9 by organized groups, we have consulted the Attorney General of the Administration on the legal viability of such request,” the President said in a televised message to the nation.
Regarding Law 407 of November 3, 2023, which prohibits metallic mining in Panama, he specified that in immediate compliance with its provision, “the Ministry of Commerce and Industry, through the National Directorate of Mineral Resources, proceeded to process the cancellation of seven concessions and will continue the process within the term established by law with the other pending concessions”.
He also informed that the company Minera Panamá made the payment corresponding to its obligations established in the contract law, and while waiting for the ruling of the Supreme Court of Justice, instructed the Ministry of Economy and Finance so that the money received is not used and is kept in a restricted account in the National Bank of Panama.
In this respect, the Panamanian Ministry of Economy and Finance (MEF) issued a statement in which it highlighted that Minera Panamá delivered to the General Revenue Directorate (DGI) a total of US$ 562,840,543, in accordance with the obligations established in the contract law.
In his speech, the Panamanian Head of State urged “to put aside personal, ideological, political or economic interests”, since “the solution of national problems requires the participation of all Panamanians with respect, listening to all opinions, considering the realities and always abiding by the laws”.
Likewise, he asked the Panamanian people to wait for the times determined by the rulings of the Supreme Court of Justice and reiterated that he will abide by the ruling issued by this entity on Law 406 of the mining contract.
For 27 days, thousands of Panamanians have been demonstrating massively and have closed the main roads, preventing the passage of vehicles, as a protest against Law 406 which approves broad concessions between the State and Minera Panama, with negative environmental impacts, which calls into question national sovereignty.
The President had ratified Law 406 between the State and Minera Panamá, of the Canadian company First Quantum Minerals (FQM), to exploit the largest open pit copper mine in Central America.
Central America
El Salvador’s $9.663 billion budget for 2025 focuses on key sectors with no new debt issuance
The Finance and Special Budget Committee of the Legislative Assembly issued a favorable opinion today for the bill containing the 2025 General State Budget, which amounts to $9.663 billion. For the first time, this budget does not involve issuing debt for current expenditure.
The opinion was approved after hearing from officials from various government departments, who explained the allocation of public resources as well as what has been executed in 2024.
The priority areas will continue to be education, health, security, and defense, as they will receive 37% of the total budget, amounting to $3.609 billion. Education will receive $1.535 billion for projects under the “Crecer Juntos” (Grow Together) Law, the “Crecer y Aprender Juntos” (Grow and Learn Together) program, the “Mi Nueva Escuela” (My New School) program, the Digital Gap Reduction initiative, Quality and Coverage Improvement for the “Nacer, Crecer y Aprender” (Be Born, Grow and Learn) program, among others.
Health will receive $1.170 billion to strengthen the “Creciendo Saludables Juntos” (Growing Healthy Together) program and Integrated Health, improve infrastructure and equipment for hospitals and health centers, and other areas. Meanwhile, security and defense will receive $903.4 million.
An allocation of $1.700 billion will go to the Annual Public Investment Program.
Central America
Costa Rica takes step toward full membership in Pacific Alliance to Stimulate Trade and Jobs
The Government of Costa Rica expressed satisfaction after being accepted as a candidate to join the Pacific Alliance, a bloc in which the Central American country hopes to boost its economy and promote exports.
“We are convinced that with eventual membership in this trade bloc, we will promote the dynamization of our economy and the generation of jobs,” said Costa Rican Minister of Foreign Trade, Manuel Tovar, in a statement. The official emphasized that joining the Pacific Alliance would lead to increased and facilitated intra-regional trade and investment, while also allowing Costa Rica to project itself to the world as a bloc for the promotion of exports, investment, and the strengthening of regional value chains.
The Council of Ministers of the bloc, meeting in Santiago, Chile, approved Costa Rica’s candidacy for full membership, although a special protocol must still be developed in 2025 to finalize the Central American country’s accession.
The Costa Rican government explained that with the guidance of a roadmap created by the working group responsible for the matter, it will follow a process of exchange with the Pacific Alliance to agree on the Protocol in the coming year.
Central America
Honduras Seizes Over 26 Tons of Cocaine in 2024, Marking Major Drug-Fighting Achievements
Honduran authorities have seized more than 26 tons of cocaine so far in 2024, reported Friday the Secretary of Security, Gustavo Sánchez.
During a promotion ceremony for National Police officers in the city of La Paz, in western Honduras, Sánchez highlighted “the progress in the fight against organized crime in Honduras,” which includes “the seizure of more than 26 tons of cocaine, the destruction of over 11 million coca bushes, and the removal of more than 15,000 firearms from the streets.”
He added that these achievements have been reached with the support of the Armed Forces.
The police ceremony was led by Honduran President Xiomara Castro, who emphasized that during her administration, which began on January 27, 2022, “the National Police and Armed Forces have dealt significant blows to the drug state inherited from the previous regime, seizing the largest amount of drugs in recent years and destroying thousands of hectares of drug plantations and laboratories.”
Castro also stated that by the end of her term on January 27, 2026, “the police force will meet the United Nations’ recommended standards of 300 police officers for every 100,000 inhabitants.”
The Secretary of Security mentioned that with the new recruits joining the National Police, the total force has risen to 21,500, 25% of whom are women.
According to Sánchez, 2024 has seen the lowest rate of criminal violence in the last 20 years, although the perception from various sectors differs from official figures.
Human rights organizations report that the country experiences between ten and twelve homicides daily, despite a partial and temporary state of emergency declared in December 2022.
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