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Caribbean & Central America - September 2011 (ISSN 1741-4458)
PANAMA: Ending speculation over oil
After months of rumours, the government of President Ricardo Martinelli has confirmed the discovery of at least 900m barrels of crude oil reserves in Panamanian territory. While the announcement means Panama looks poised to join Guatemala and Belize as oil-producing countries in Central America, it also potentially sets the right-wing pro-business government on a new collision course with indigenous groups given that some of the reserves are partially located in indigenous territories.
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