The List of High-Risk Countries for Money Laundering From the European Unions No Longer Contains ‘Panama’

Despite objections from some MEPs, the European Commission’s delegated act removing Panama and other countries from the list was approved.

The European Parliament approved the European Commission’s Delegated Act recommending the exclusion of Panama from the list of high-risk countries for money laundering and terrorist financing.

This is Panama’s Reaction to Being Removed from the European Union List

Before the first rays of the sun had risen, Panama woke up this Wednesday, July 9, to the good news of its removal from the list of high-risk countries for money laundering and terrorist financing.  Reactions were swift, from President José Raúl Mulino to members of parliament, economists, business leaders, and bankers celebrating the country’s exclusion from this discriminatory list. From the President of the Republic, José Raúl Mulino, to representatives, economists, business leaders, and bankers, all reacted by celebrating the country’s exclusion from this discriminatory list.

How does Panama Benefit from Being Removed from the European Union’s Money Laundering List?

Analysts, financial experts, and government spokespersons point out that the first benefit is that it improves the country’s reputation and paves the way for attracting investment.  Panama’s exclusion from the list of high-risk jurisdictions for money laundering and terrorist financing, approved by the European Parliament, brings significant benefits to the country, including:  It strengthens Panama’s image as a reliable and transparent destination for business and investment. “This achievement not only strengthens Panama’s image in the international community, but also opens new doors for us to attract investment,” said economist Eric Molino Ferrer.