A commission has recommended Panama negotiate with First Quantum on a progressive closure of the Cobre Panamá copper mine and a final arbitration settlement, stressing talks do not bind the State to any outcome.
Panama will begin its Fifth Round evaluation by the Financial Action Task Force (GAFI) in August 2027, with the final report due in December 2028 and a sharp focus on effectiveness rather than just technical compliance. Regulators report progress, including 92% compliance in beneficial ownership registration among non-financial obligated subjects.
Panama’s unemployment rate dropped from 10.4% to 8.5%, but hundreds of thousands remain underemployed, working long hours for below-minimum-wage income.
