Spanish version

DIPLOMACY

Meeting between Panama, France postponed

The decision to place Panama on a list of non-cooperative jurisdictions will be discussed.

Spanish version

Temas:

A planned meeting between diplomats from Panama and France that was scheduled to take place this week has been delayed until next week.

President Juan Carlos Varela had announced last week that Minister of Economy and Finance Dulcidio De La Guardia and his team would travel to Paris to meet with his counterpart from France, Michel Sapin, due to the decision by the country to place Panama on a list of non-cooperative countries. The decision was made based on international reports on the activities of the firm of Mossack Fonseca.

But Sapin was occupied by prior commitments with the International Monetary Fund, so the meeting was postponed.

Government sources said the meeting will take place in the middle of next week. Yesterday, Varela said that France "made a mistake" in its decision, and said that other countries who have threatened action against Panama are also making a mistake.

France was the first country to retaliate against Panama in the wake of the allegations raised by the release of the Mossack Fonseca data. A telephone call between the two heads of state failed to clarify the issue. 

Wednesday, France will host an emergency meeting convened by the Organization for Economic Cooperation and Development (OECD), at which it is expected to demand tax authorities around the world to adhere to standards it has created to strengthen tax information exchange agreements. This meeting will be behind closed doors and without journalists, organizers have confirmed.

Meanwhile, France continues to lead a global fiscal review and will be petitioning the G20 - the group of the richest countries in the world which this week are gathered in Washington — to achieve a unified fiscal policy and to place non-collaborating countries on a black list.

As indicated in the statement of the French Ministry of Finance Monday, Panama will be asked to "re-negotiate its tax agreements."

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