Extended lifeline for local dailies

PANAMA’S oldest newspaper, La Estrella de Panama and its stablemate  El Siglo, belonging to Abdul Waked, have received a temporary reprieve from the US Treasury Department with an extension of an operating license until Jan 6 2017.
the original license had been issued for both dailies  until  July 6 this year On May 5, the president of Waked International, Abdul Waked, and his nephew Nidal Waked, alleged ringleaders of amoney laundering operation , were included by the US Treasury, along with 68 of his companies, in the ” Clinton List “.
Prior to the announcement of the extension of the license Eduardo Quiros, president of Grupo Editorial El Siglo and La Estrella, reported  in a June 3  letter to staff,  multiple complications with suppliers, banks, services and a significant decrease  of advertisers following the notice of inclusion in the Clinton List.
Quiros announced the implementation, as of Friday of “severe measures involving reduced publication frequency,  and disposal of products, decreased pages, suspension of projects and the reduction of human resources “.
Local journalists’ associations were quick to react.

Rita Vasquez, president of the National Council of Journalism, described as “unfortunate” the consequences of the publications being placed on The Clinton List  and expressed confidence that with the new license both La Estrella de Panama and El Siglo can solve the problems currently they are  facing, so that  the country’s information  balance can  be preserved and thus maintain a diversity of opinions on the topics of the national agenda, with a view to preserving democracy.
Simon Bolivar Aleman, former president of the Panama Journalists Forum for Freedom of Expression and Information described the situation facing these media  as “delicate and serious”.
NEW OWNERS?

“We must find solutions to this crisis and one of them, is for Abdul Waked to agree with the Americans to transfer them to other newspaper owners” he said.

“Part of the solution would be selling these newspapers; we know that there are already several interested groups, “he added.