OPINION: Panama State in construction blinkers

Until a few years ago, Odebrecht was walking around the region like the rich neighbor of the
neighborhood. The pharaonic works and the exorbitant amounts only competed with the
magnitude of the enormous influence they exerted with the rulers, which they displayed
indiscreetly. Nobody then would have thought that a day like today would be happening
vicissitudes of some of the economies that squeezed the most. The default of a payment by the
firm may have a conjunctional trigger – the probable triumph of the Brazilian candidate Jair
Bolsonaro and what the advent of this far-right politician means for a contractor associated with
the Workers’ Party – but the causes that lie behind the company’s financial problems are
structural. As a result of the discovery of a corruption scheme, the signature was sanctioned
with multi-million dollar fines. In addition, several countries canceled contracts and vetoed them from
participating in tenders. Added to this is the aversion that the brand provokes. Beyond ethical
considerations, this foreseeable financial vulnerability should have been a more objective reason for
the Panamanian State not to award it new major projects. It is important to be vigilant so
that this non-payment has no consequences in Panama. Already the country experienced the
disastrous experience of hiring companies that do not have the liquidity to complete the works
they undertake. That foreseeable financial vulnerability should have been an objective reason
more for the Panamanian State not to award him new major projects. It is important to be
vigilant, so that this non-payment has no consequences in Panama. LA PRENSA, Oct 27