OPINION: Odebrecht cover-up threatens Panama

Marcelo Odebrecht’s revelations regarding corruption practices not yet ended by the company are a serious blow to the credibility of its good corporate governance. However, there were already suspicions that the Brazilian construction company had not been entirely honest when it confessed to the United States Department of Justice the amount of the bribes  paid in each country where it operated.

This was evident in Panama and Peru, where the sum of what the company had admitted was very  far from what it actually paid in bribes. Today, poor management, diversion of funds and other factors – perhaps even of a corrupt nature – keep the company in a serious situation, with debts of billions of dollars.

 And of this, Marcelo Odebrecht accuses not only his father, Emilio, but the recently elected president of the group. Panama must seriously consider rethinking its agreements with the informers, who may be withholding information, as Marcelo Odebrecht himself has denounced. We should also develop an action plan in case the company cannot assume the payment of the fines imposed in Panama.- LA PRENSA,Dec. 20