Panama Odebrecht contracts in danger

THE FIRST signs of Panama fall out over the Odebrecht corruption scandal came on Tuesday, June 24 when Housing Minister Mario Etchelecu said that the government has not ruled out suspending the $500 million for the Colón urban renewal project that was granted to the Brazilian company..

He said that a “legal team” from the Office of the Presidency is analyzing the situation. Odebrecht is under investigation for allegedly using Panamanian shell companies to hide bribes. Company President Marcelo Odebrecht was arrested in connection with the case last week.
The Housing Minister disclosed that the government has hired a group of lawyers in Brazil “to keep us aware of what is happening there.”
The government plans on announcing a decision on the contract Friday. Odebrecht was also recently awarded the $2.8 billion contract for the construction of Line 2 of the Metro. That contract has yet to be approved by the comptroller.
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