Panama to demand Odebrecht compensation.

PANAMA will demand  compensation from the Brazilian construction company Odebrecht for bribes it admitted paying to government officials. 

Minister of the Presidency Álvaro Alemán said Monday, Jan. 2 that the compensation will be “for the damage that the country has suffered.”

He also said the company needs to identify the recipients of those funds.

“The four million Panamanians have the right to know who were the beneficiaries of the alleged bribes paid by this company…The company has cooperated in the United States and Brazil, it must cooperate in Panama,” said Alemán at the opening of the of the Assembly legislative session.

Alemán acknowledged that there has been no communication with Odebrecht since the United States Department of Justice revealed the documents in which the construction company admitted to paying bribes totaling $59 million.

Minister of Housing Mario Etchelecu asked for greater speed in the investigations of the

Public Ministry into Odebrecht contracts. He said he opposed the $569 million contract granted to the firm for the Colón urban renewal project. “I hope that company will collaborate with prosecutors and point out officials who have participated in those acts of corruption,” he said.

Last week, the Varela government promised not to award any more contracts to Odebrecht until the company collaborates with Panama’s investigations into the bribery activities.