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- 01/08/2009 02:00
PANAMÁ. The new government in Panama is expected to announce next week the first steps toward breaking with decades of banking secrecy ...
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Agrega La Estrella en Google ↗️PANAMÁ. The new government in Panama is expected to announce next week the first steps toward breaking with decades of banking secrecy that have drawn both tax-allergic customers and global rebukes says USA Today.
Panamanian officials insist that their limited financial unveiling is motivated solely by a desire to retool the economy for the post-financial crisis era, but the initiative's more immediate impact may be felt in the halls of the US Congress. That's because Panama's image as a leading offshore financial center conducive to hiding profits from the tax man has become the latest hurdle for a pending US trade deal, which has languished since its 2007 signing during the Bush administration.
A country of 3.3 million, Panama is emerging as a test of the Obama administration's stated goal of reorienting US trade policy toward the needs of the middle class. Panama's location astride a key global trade route in the Panama Canal and its role in hosting thousands of foreign corporations has earned the country an economic profile out of proportion to its relatively tiny $24 billion annual output.
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