PANAMA PAPERS: Panamanian government will create an independent commission to examine the financial practices of the country

Panamanian government announced Wednesday that it will create an independent commission to examine the financial practices of the country after the scandal Panama Papers, the origin of which has a drain huge information database company Panama law firm Mossack Fonseca writes Reuters.

“The Government of Panama, through the Ministry of Interior, will create an independent commission composed of national and international experts to assess current practices and propose measures that we share with other countries of the world to strengthen the transparency of financial systems and legal “said Panamanian President, Juan Carlos Varela, in a televised speech.

Several countries in the world have launched investigations to investigate possible crimes committed by some of the richest and most influential people in the world, having been a discharge of 11.5 million immense database of information from the Panamanian company Mossack Fonseca law firm specializing in the creation of offshore companies through which they hid their valuables several global personalities.

In his speech, Varela reiterated that Panama will work with other countries involved on the leak, which was based survey Panama Papers documented by the German newspaper Süddeutsche Zeitung and the International Consortium for Investigative Journalism (ICIJ) based in Washington, and details of the investigation were shared with more than 100 media outlets in the world.

Survey reveals financial arrangements prominent figures like Russian President Vladimir Putin’s close, the father of British Prime Minister David Cameron, Pakistani premier’s close, the Chinese president, Xi Jinping and President of Ukraine Petro Poroshenko.

Panama has not yet designated committee members, but Gian CASTILLERO, a counselor in the government, said in an interview that the commission would be formed in the next six months. CASTILLERO insisted that the leak of the firm Mossack Fonseca has damaged the reputation of Panama, whose economy is based 85% on services.

On Wednesday, the French Minister of Finance, Michael Sapin announced that France will enter Panama on the list of tax havens, following revelations in the investigation Panama Papers, and require countries that belong to the Organization for Cooperation and Development EU to follow suit .

“Statements coming from France are made on an emotional and political background and should not be repeated”, he criticized the announcement Wednesday CASTILLERO Sapin.

Councillor Panamanian explained that there is currently no evidence to show that the law firm Mossack Fonseca acted illegally, warning that even if Ramon Fonseca, co-founding, is close to President Panamanian Varela, this will not influence the judgment of government ROC regarding the company.

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