LatinNews Daily - 10 July 2025

*Panama’s government led by President José Raúl Mulino has hailed the European Union (EU)’s decision to remove Panama from its list of countries with strategic deficiencies in their anti-money laundering (AML) and counter-terrorist financing (CFT) frameworks. The decision was taken on 10 June but confirmed yesterday by the Mulino government. This followed a similar decision by the Financial Action Task Force (FATF) of the Organisation for Economic Co-operation and Development (OECD) in October 2023, but Panama remained identified by the EU as a high-risk third country due to further strategic deficiencies, notably regarding transparency of beneficial ownership. Based on available information sources, the European Commission, the EU’s executive branch, concluded that Panama has addressed these deficiencies. A statement by Panama’s economy and finance ministry (MEF) highlighted various benefits for Panama in leaving the list including: a strengthening of its reputation and international image; improved investor confidence and investment climate; facilities for carrying out financial and trade transactions with European entities without additional due diligence measures; a boost to Panama’s competitivity as a financial and logistical centre; and the facilitation of imports and exports, boosting the country’s trade and economy.

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