President addresses diplomatic corps on Panama Papers

PRESIDENT , Juan Carlos Varela, met with most members of  Panama’s Diplomatic communityon  Wednesday, April 6.  in an attempt to assuage concerns raised by the worldwide attention paid   the” Panama Papers”, the over 11.5 million files from the data base of Panama law firm Mossack Fonseca. 

Panama’s Chamber of Commerce and Industry and the law firm itself  have attempted to Move the focus with a shoot the messenger approach, describing the release of the files as a hacking job and an invasion of privacy. The files  if printed and  laid side by side would extend for over 2,500 miles,
In an attempt to reduce the damage to Panama’s economy which is largely service oriented with over 160 banks in the country, the Ministry of Foreign Affairs called a press conference  led by Ministry Vice President Luis Miguel Hincapie. Hincapie who had  been  scheduled to meet Wednesday morning with representatives of the diplomatic corps accredited in Panama, but the meeting was postponed to 5:00 pm with Varela  in charge. .
This meeting reults from  the revelations of  research that involved 376 journalists from 76 countries, promoted by the International Council of investigative Journalists ( ICIJ) on the activities of the Panamanian firm Mossack and Fonseca, who would have moved millions of dollars through offshore companies, activities that favored at least 128 politicians and officials around the world.
The damage control swung into high gear, after it became known that France would ask the OECD to consider Panama as a tax haven.
On , Tuesday, April 5, the Executive Body categorically denied that Panama is a country not cooperating in the field of money laundering and tax evasion.
Hincapie insisted to different questions that Panama will not rush.”We can not react quickly”, you must first analyze situations, according to the Chancellor in charg