Moody’s Rating: Panama’s President Mulino Highlights Economic Stability

President José Raúl Mulino held a press conference this Thursday in which he addressed several issues of national importance. From Panama’s risk rating to advancements in medical infrastructure and the fight against drug trafficking, the president highlighted significant achievements and presented his vision for the challenges facing the country. 

Panama Maintains its Risk Rating

One of the most relevant announcements of the day was the decision by the international rating agency Moody’s to maintain Panama’s risk rating.  President Mulino described this news as “supremely important and encouraging,” emphasizing that it reflects the stability, security, and strength of the Panamanian economic system.  Furthermore, he noted that this rating strengthens the confidence of foreign investors and projects a positive image of the country to the international community.  The rating agency Moody’s Investors Service confirmed Panama’s sovereign rating at Baa3, keeping it within investment grade. 

“This is extremely important and encouraging news because it projects stability, security, and above all, the current Panamanian economic system to the entire world, and it gives confidence for foreign investment to continue and increase in our country. All Panamanians should congratulate themselves on this decision,” the president stated.  Congratulations also go out to journalists on their day.  On the occasion of Journalist’s Day, President Mulino extended his congratulations to all journalists in the country, recognizing their fundamental role in democracy and freedom of expression.   He emphasized that many journalists work “in very harsh conditions,” but their contribution is essential to keeping the country informed.  He also recalled the figure of Gaspar Octavio Hernández, considered the father of journalism in Panama.

Support for the National Football Team

In a more relaxed tone, Mulino expressed his support for the Panamanian national soccer team, currently in Guatemala. “I want to send my best wishes to our team in Guatemala today; I hope everything goes well ,” he stated. He also condemned the attack on the Panamanian team and reiterated that Panama has historically been respectful in its sporting matches against other national teams.  On the other hand, the president clarified that there will be no day off if the soccer team qualifies, assuring that “the country has to produce and work,” although he stressed that, without a doubt, it would be a day of “national rejoicing.”

Historic Drug Seizure and Gang Dismantling

Mulino took the opportunity to congratulate the National Aeronaval Service for the largest drug seizure in the country’s history. They seized 13.5 tons of drugs , an effort also recognized by U.S. drug enforcement authorities.  The president highlighted the importance of investing in public safety equipment, mentioning that this seizure is three times greater than the value of the Tucano aircraft.  Furthermore, the president referred to the operation that dismantled a drug trafficking network at Tocumen Airport, resulting in the arrest of 54 people. “I hope and trust that the judges will keep them in custody, because the efforts of our security agencies are useless if the judges then make them sign in,” Mulino stated, visibly annoyed by the situation.

Violence and Drug Trafficking in Panama

The president also addressed the issue of violence in the country, analyzing the evolution of crime rates. He recalled that in 2009, Panama registered 254 murders per 100,000 inhabitants, a phenomenon that skyrocketed starting in 2006. While acknowledging that gangs and drug trafficking are the main factors fueling the violence, he emphasized that the fight against crime is a task that involves all sectors of the country, not just the authorities.  “It’s everyone’s job, not just the authorities’ job, but society’s job, not just the job of all organizations, and everyone attacks, everyone criticizes the wave of insecurity and violence. I’ll say it again: who dies? All lives are important. Don’t come out now and say that I don’t care about lives. I do care; they are human beings. But who dies entangled in these problems? Who is involved in the business?” he reiterated.  “Today, the phenomenon we are seeing in Panama is the excessive and uncontrolled increase in drug production in Colombia. As I have always said, we are and will continue to be neighbors of Colombia, for better or for worse,” stated Mulino, who called for continued efforts to combat drug trafficking.

US Military Training and Clarifications on International Tensions

President Mulino used the conference to clarify that the training exercises of US military personnel in the Darien and Sherman areas are authorized by Panama and are not related to tensions between the United States and Venezuela.  “We are not lending our territory for any hostile act against any country in the world,” he stated. 

Advances in the Health Sector

Regarding the health sector, Mulino highlighted that 2,149 new health professionals, including doctors, nurses, and technicians, have been appointed this year. He also announced the opening of the Guararé polyclinic next week, which will benefit 10,000 Panamanians.  Regarding other hospital infrastructure, the president announced that the Bugaba hospital, which had been abandoned for 10 years , will be inaugurated on November 27. This facility has been renovated to world-class standards. He also highlighted progress in the construction of other medical centers in the country, including hospitals in Guararé, Colón, Tambo, and Darién.

Next Tour to Coclé

Finally, Mulino announced that tomorrow he will travel to the province of Coclé, specifically to Penonomé and La Pintada, to review works and support fairs of the Agricultural Marketing Institute (IMA).   He will also accompany his wife, First Lady Marisel de Mulino, in the development of the “Misión Patitas” project, which has cared for more than 15,000 pets. The president announced that the cornerstone of the pet hospital in Panama will be laid soon.