INSUBCONTINENT EXCLUSIVE:
losses follow protests against a new contract for the Cobre Panama project
The government enacted this contract on October 20.The protests included street closures and large marches
They began after a quick approval of the contract by the National Assembly of Deputies.This approval happened in just three days, despite
various sectors raising concerns.The government, led by President Laurentino Cortizo, claims the new contract is beneficial
He said the primary and agri-food sectors have lost about $150 million.He warned that these losses would increase if the roads remain
closed.Castillo urged the government to stand firm and use legal and institutional ways to solve conflicts.He also emphasized the need to
These blockades are affecting nearly 900,000 people in the western part of Panama.Castillo highlighted the impact on small and medium-sized
Association of PanamaThe Banking Association of Panama (ABP) has also expressed concern
quality of life of its people.Tourism representatives have mentioned the damage to their industry
Street closures are disrupting activities, including the cruise season.Amidst these issues, the President sanctioned a law on November 3
This law bans new mining concessions in Panama.The Industrial Union of Panama (SIP) reported canceled exports to Central American countries
This is due to the blockades affecting trade.About ten legal challenges against the new Cobre Panama contract are now in the Supreme Court
Several of these challenges are awaiting a decision.
