Nicaragua; China Imports from Nicaragua Fall 50%; Rubio Excludes Nicaragua from U.S. Allies; UN Calls for Probe into Indigenous Leader’s Death.

Friday, June 5, 2026. Nicaragua Nicaragua, often referred to as the “Land of Lakes and Volcanoes,” is a country of remarkable contrasts, resilience, and enduring character. Situated in the heart of Central America, it is blessed with extraordinary natural beauty, from the vast waters of Lake Nicaragua, the largest lake in Central America, to dramatic volcanic chains, lush rainforests, pristine beaches on both the Pacific and Caribbean coasts, and charming colonial cities that tell the story of centuries of history and cultural development. For those who have had the opportunity to visit Nicaragua, one quickly discovers that beyond its landscapes lies a warm and welcoming people whose hospitality and pride in their nation are among its greatest strengths. Today, Nicaragua continues to occupy an important place within the Central American region. While international headlines often focus on political developments and debates surrounding governance and human rights, the country itself remains far more complex than the headlines suggest. Nicaragua is a nation of entrepreneurs, farmers, business leaders, professionals, and families who continue to work toward building opportunities and prosperity despite the challenges that have shaped much of its modern history. Like many nations, Nicaragua faces obstacles, yet it also demonstrates a remarkable ability to adapt, endure, and move forward. Economically, Nicaragua has shown notable resilience in recent years. While much of the world has experienced periods of uncertainty and fluctuating growth, Nicaragua has continued to attract investment in key sectors such as agriculture, manufacturing, renewable energy, construction, and tourism. Remittances from Nicaraguans living abroad continue to play a significant role in supporting families and contributing to economic activity, while ongoing infrastructure projects seek to improve transportation, connectivity, and development opportunities throughout the country. These efforts have helped position Nicaragua as an increasingly relevant participant in regional commerce and trade. Tourism remains one of the country’s most promising sectors. Travelers seeking authentic experiences are discovering Nicaragua’s unique combination of adventure, culture, and affordability. Destinations such as Granada, León, San Juan del Sur, and Ometepe Island offer visitors opportunities to explore colonial architecture, active volcanoes, world-class surfing, ecological reserves, and rich cultural traditions. Increasingly, Nicaragua is being recognized as a destination that provides many of the attractions found elsewhere in the region while retaining a sense of authenticity and tranquility that has become increasingly rare. At the same time, Nicaragua continues to navigate significant political and social challenges. The country’s leadership remains the subject of international attention, and discussions surrounding governance, democratic institutions, and civil liberties continue to be important topics both within Nicaragua and throughout the international community. These developments have influenced diplomatic relations, migration patterns, and international perceptions of the country. Nevertheless, the Nicaraguan people continue to demonstrate resilience and determination, qualities that have characterized the nation throughout its history. Migration also remains an important issue affecting many Nicaraguan families. Like several countries throughout Latin America, Nicaragua has seen citizens seek opportunities abroad, contributing to vibrant Nicaraguan communities in neighboring countries, the United States, and beyond. These communities maintain strong ties to their homeland, helping support economic growth and preserving cultural connections across borders. For members of the Council of International Investigators and the broader investigative profession, Nicaragua represents a country of growing importance within the region. Its expanding business environment, international commercial activity, legal developments, and cross-border economic relationships create opportunities for investigative professionals, security specialists, compliance experts, and risk management practitioners. Understanding Nicaragua requires looking beyond simple narratives and appreciating the complexity of a nation that continues to evolve while remaining deeply rooted in its traditions, culture, and identity. As we turn our attention to Nicaragua this week, we recognize a nation shaped by history, strengthened by adversity, and defined by the determination of its people. Whether viewed through the lens of business, security, culture, or regional development, Nicaragua remains an important and fascinating part of the Central American landscape, one whose future will undoubtedly continue to influence the region for years to come. Brett Mikkelson Fundador, B.M. Investigations, Inc. – Private Investigations in Panama TOP NEWS and TIDBITS: Nicaragua’s Exports to China Decline During the First Quarter of 2026 Nicaragua’s exports to China fell by 50.4% during the first quarter of 2026, accounting for just 1.4% of the country’s total exports, while the United States absorbed 41.1%, according to an analysis by La Prensa based on official statistics from the Central Bank of Nicaragua. The data show that despite the political and commercial rapprochement between Daniel Ortega’s regime and Beijing, Nicaragua’s economy continued to concentrate its external sales on the U.S. market. Between January and March, Nicaragua exported goods worth USD 1.983 billion, excluding free trade zones, according to the Central Bank of Nicaragua. Of that total, the United States purchased USD 814.5 million, while China bought only USD 27.9 million, according to the analysis. The difference was also reflected in the trade balance. Nicaragua imported USD 553.4 million worth of goods from China during the quarter and, having sold only USD 27.9 million to that market, accumulated a trade deficit of USD 525.5 million with China, according to BCN data. The opposite occurred with the United States. Imports totaled USD 485.8 million, while exports reached USD 814.5 million, resulting in a trade surplus of USD 328.7 million for Nicaragua, according to the official figures cited by La Prensa. Exports to China Fell from USD 56.1 Million to USD 27.9 Million in One Year The decline in the Chinese market was measured year-over-year. Export revenues to China dropped from USD 56.1 million in the first quarter of 2025 to USD 27.9 million during the same period in 2026, according to La Prensa’s analysis based on BCN data. Conversely, exports to the United States increased from USD 435 million to USD 814.5 million over the same period. This increase of USD 379.5 million represented growth of 87.2%, according to official statistics. La Prensa argued that these figures contradict the Nicaraguan government’s narrative regarding the economic benefits of its closer relationship with China. The analysis added that Managua sought

Argentina; Three Vessels Blocked Over Ebola Outbreak; IMF Completes Program Review; Mass Consumption Falls 3.3% in 2026.

Friday, May 29, 2026. Argentina Argentina has always held a certain mystique in the eyes of the world. From the bustling avenues of Buenos Aires to the vineyards of Mendoza, from the proud traditions of the asado to the unmistakable passion of its people, Argentina remains a nation defined by resilience, identity, and pride. I have personally visited the country several times over the years and have always been struck not only by its beauty and culture, but by the warmth and loyalty of its people. Once an Argentine calls you a friend, that friendship tends to endure for life (whether you like it or not). Today, Argentina once again finds itself at the center of international attention, this time under the leadership of President Javier Milei, a man whose wild hair, unapologetic demeanor, libertarian philosophy, and complete disregard for political fashion have made him one of the most recognizable political figures in the world. Whether one agrees with all of his methods or not, there is little doubt that Milei has injected a new sense of urgency, disruption, and accountability into a country long burdened by economic instability, inflation, and political frustration. There is something uniquely Argentine about this moment. Beneath the headlines and political debates lies a country rich in natural resources, agriculture, energy potential, mining, innovation, and human talent. Argentina has always possessed the ingredients necessary for greatness; the challenge has often been governance, direction, and economic confidence. Many now believe the country may finally be beginning the difficult journey back toward stability and long-term opportunity. This week’s newsletter takes a closer look at Argentina, its current political and economic landscape, emerging risks and opportunities, and the broader implications for business, investment, and regional stability throughout Latin America. It is a country impossible to ignore, and perhaps now more than ever, a country worth watching closely. Brett Mikkelson Fundador, B.M. Investigations, Inc. – Private Investigations in Panama TOP NEWS and TIDBITS: Under President Milei’s Austerity Measures, Disabled Argentinians Risk Losing Essential Services Analía Celis, a 34-year-old woman with an intellectual disability and cerebral palsy, cannot walk, but sports therapy has helped relieve her muscle tension. She cannot work, but baking gives her a sense of independence. She struggles to speak, but painting with her peers helps her connect without words. Now, Argentine President Javier Milei has dismantled, with his trademark chainsaw approach, the specialized therapy programs that for decades have represented a lifeline for Celis and many of the approximately 5 million Argentinians living with disabilities. In recent months, the government has frozen payments to organizations that provide therapeutic and educational services for people with disabilities. According to advocates and family members, participants have been deprived of carefully designed routines, and key elements of a social safety net once considered strong by regional standards have been dismantled. “I never imagined we would reach this point, selling our vehicles because we do not have enough money to keep the lights on,” said Martín Lucero, legal representative of the Argentine nonprofit organization Andar, which operates a day center for people with disabilities on the outskirts of Buenos Aires. Andar has been weakened to the point that it stopped offering round-trip bus transportation to the center two months ago, leaving Celis and dozens of others stranded in the sprawling Buenos Aires suburb of Moreno, where they depended on the organization’s free and customized transportation to attend classes. “The only solution cannot be to deprive a person of the space they need for their development,” Lucero said. “This is a political decision.” Since Milei took office at the end of 2023, his austerity agenda has made him an icon of the global conservative backlash against the liberal establishment. Like his allies in the Trump administration, his government has framed cuts to disability programs as part of a reform effort aimed at eliminating fraud and waste within the federal bureaucracy. A spokesperson for the president did not respond to repeated requests for comment. A system heading toward collapse Service providers for people with disabilities in Argentina — including day centers like Andar, residential programs, special education, and vocational training services — operate using revenue received through billing state insurance programs. The debts of these nonprofit organizations have mounted because of irregular government payments and reimbursement rates kept below the country’s soaring inflation. But the situation worsened six months ago, they say, when the flow of funds stopped completely. To cut costs, organizations have increasingly reduced staff, delayed salaries, cut food portions, and shortened working hours. There is no official count of how many therapeutic centers have been forced to close, but disability rights organizations estimate that as many as 50 have shut down this year, many of them in Argentina’s rural provinces. “I want to tell the president to look at us, to really see us, to come meet us,” said Roman Pontecorvo, a 28-year-old man with an intellectual disability who discovered his passion for acting at Andar. “If Andar closes, many of us will be left with nothing. It will be total chaos.” Andar says that around 30% of the 150 people with disabilities enrolled in its day program can no longer reach the center — a peaceful campus with a soccer field, vegetable garden, and professional kitchen where participants can earn a monthly salary by working for its catering service. According to therapists, without intervention programs, people with disabilities can rapidly regress. “She wakes up three or four times every night screaming that she wants to go to the farm,” said Clementina Tabares, Celis’s 74-year-old mother, who now misses her own medical appointments because Celis requires around-the-clock care. Celis spends all day in bed with a blanket covering the window to block the sunlight and loud rock music playing from her phone, occasionally moaning in distress. “She is isolating herself,” Tabares said. “That scares me.” Milei delays emergency disability law According to advocates, there is a simple solution: implementing the law passed last year that declared a state of

El Salvador; Bukele Announces Anti-Corruption Offensive; Over 75 U.S. Companies Eye Investment in El Salvador; Rising Violence Against Women Journalists in El Salvador.

Friday, May 22, 2026. El Salvador In recent years, El Salvador has become one of the most discussed countries in Latin America, not only for its aggressive security policies and dramatic reduction in gang violence, but also for its broader attempt to redefine itself economically, politically, and internationally. What was once viewed primarily through the lens of instability and criminality is now increasingly examined as a case study in state control, public security strategy, investment attraction, and geopolitical positioning. Yet beneath the headlines lies a far more complex reality. El Salvador today presents both opportunities and questions for investors, corporations, regional operators, and security professionals alike. Rapid transformation often creates equally rapid shifts in risk landscapes, legal frameworks, governance structures, and public perception. Understanding the country therefore requires moving beyond narratives of either success or criticism and instead examining the operational realities on the ground. This week’s edition explores El Salvador from a strategic risk perspective, reviewing the country’s evolving security environment, political dynamics, economic direction, business climate, and the implications these changes may carry for organizations operating in or evaluating the region. As with many emerging environments in Latin America, the key is not simply identifying risk, but understanding how risk itself is changing. Brett Mikkelson Fundador, B.M. Investigations, Inc. – Private Investigations in Panama. TOP NEWS and TIDBITS: Bukele Announces Anti-Corruption Crackdown After Declaring Victory Over Gangs in El Salvador El Salvador’s President, Nayib Bukele, announced on Tuesday the launch of an anti-corruption campaign after declaring victory in his “war” against violent gangs, which has resulted in approximately 91,000 arrests. Since March 27, 2022, Bukele has enforced a state of emergency under which tens of thousands of people have been detained without judicial warrants, a measure that human rights organizations claim has led to serious human rights violations. “We decided, or rather had to face, what was basically an open war. I have always said that we won thanks to God,” the president stated during the inauguration of the Attorney General’s Office headquarters in Antiguo Cuscatlán, on the western outskirts of San Salvador. He acknowledged that teamwork among different state institutions was essential “for us to defeat them.” Bukele recalled that gangs previously acted as “the real government” and controlled “approximately 80% of the territory” of the Central American country. After defeating the gangs, he said, “another stage now begins: law and order (…) ensuring there is no corruption.” “There is theft, smuggling, tax evasion, corruption, fraud, and environmental contamination caused by individuals and companies, and we have not eradicated that yet,” he emphasized, adding that this would be the next step. The opposition has criticized the lack of transparency in government accountability and the restrictions preventing information about detainees from being disclosed, arguing that Bukele governs with near-absolute power. Several Latin American countries are seeking to replicate Bukele’s security policies despite criticism from human rights organizations, which argue that the state of emergency allows authorities to detain individuals without judicial warrants based on accusations of gang membership or collaboration. READ ORIGINAL ARTICLE HERE Export Costs Rise, Warning Issued in El Salvador According to Coexport President Silvia Cuéllar, although the flow of Salvadoran exports has not been interrupted, trade has become more expensive. This is mainly due to the increase in freight costs on routes to Asian markets, which previously ranged between $1,300 and $2,000, but now are around $6,000, although she acknowledged that contracts are still being fulfilled. Cuéllar recalled that most Salvadoran exports, especially perishable goods, are shipped to the United States and Central America, where there has not been a “significant impact.” “We are more affected by the supplies we need to import through those routes than by exports themselves, because if I have the product, there is no problem,” the Coexport president stated during a forum organized with companies to analyze the impact of the Middle East crisis. For Cuéllar, businesses now have tools such as artificial intelligence to anticipate developments in the international market. At the same time, she recommended maintaining “constant monitoring,” short-term planning, and flexibility in contracts, given the possibility of shortages in raw materials. READ ORIGINAL ARTICLE HERE El Salvador: Alarming Increase in Violence Against Women Journalists Independent journalism in El Salvador is facing a critical period. The Association of Journalists of El Salvador (APES) has released its 2025 Press Freedom Report, titled “A Year of Journalism Under Persecution and Exile.” The document outlines a landscape of economic suffocation, state surveillance, and criminalization that has forced dozens of professionals to leave the country or continue practicing journalism under precarious and hostile conditions. One of the report’s main findings highlights the harassment of women journalists, who accounted for 20.8% of all recorded attacks in the country, totaling 89 documented cases. Key findings include: • Cases of harassment against women journalists tripled. Unlike previous periods, attacks extended beyond the digital sphere and became direct and personal, with 68.5% occurring in physical spaces and 26.9% in virtual environments. • Increase in physical violence: five cases of direct physical aggression against female reporters were documented in 2025, a category in which no incidents had been reported in 2024. • Misogynistic and sexist hostility: multiple attacks included sexist, misogynistic, homophobic, biphobic, and transphobic comments and actions aimed at delegitimizing women journalists’ presence in public spaces. No attacks of this nature were reported against male journalists. • Profile of aggressors: the main perpetrators identified in attacks against women journalists were officers of the National Civil Police (PNC), social media users, public employees, and members of the military. State Harassment and Information Deserts The APES annual report, which documents a total of 426 attacks against journalists and media outlets, shows that the apparent slight statistical decrease compared to the previous year does not represent an improvement in democratic guarantees. On the contrary, it reflects a more serious phenomenon: the vacuum and silence created by the mass exile of more than 50 professionals in 2025 due to the latent threat of arbitrary arrests by the government. “The

Guatemala; Anti-Extortion Strategy Intensifies; Transition Begins at the Public Prosecutor’s Office; Economy Grows 4.6%.

Friday, May 15, 2026. Guatemala Guatemala remains one of the most fascinating and economically important countries in Central America. Rich in culture, industry, tourism, agriculture, and entrepreneurial spirit, it is also a nation that continues to struggle with one of the region’s most difficult realities: territorial criminal control and systemic extortion. In many of the larger urban sectors and so-called “red areas,” security is not simply a matter of alarms, cameras, or guards at the front gate. For some businesses, operational continuity itself comes at a price. Delivery personnel, collection agents, transportation operators, and even small business owners are often forced to make recurring payments to local criminal groups simply to move safely through certain neighborhoods or continue operating without interference. To many readers in first-world countries, this may sound shocking. Yet historically, the concept is not entirely foreign. In many ways, it resembles the protection systems once associated with organized crime structures in cities like Chicago or New York during the height of mob influence in the United States. The difference is that in parts of Latin America today, these dynamics continue to exist openly within certain sectors and communities, creating an invisible tax on daily life, commerce, and economic growth. The criminal landscape in Guatemala is also far more complex than the simple labels often associated with the major maras. While large gang structures remain dominant symbols of criminal activity, much of the extortion economy is actually driven by localized cells, imitator groups, prison-directed networks, and independent neighborhood bandas that operate with varying degrees of sophistication and territorial influence. For companies considering expansion, investment, logistics, or personnel movement within Guatemala, understanding these realities is not about fear, it is about operational awareness. In many emerging markets, risk is not always found in headline events, but rather in the quiet, daily pressures placed upon businesses trying to function normally in environments where criminal structures have partially replaced institutional control. Brett Mikkelson Fundador, B.M. Investigations, Inc. – Private Investigations in Panama TOP NEWS and TIDBITS: Guatemala: Nearly 900,000 Passengers Arrive at La Aurora Airport During the First Four Months of 2026 During the first four months of 2026, Guatemala recorded sustained growth in international passenger traffic, according to information from the General Directorate of Civil Aeronautics (DGAC), cited by Noti 7. La Aurora International Airport received nearly 900,000 international passengers between January and April, reinforcing a clear trend of increasing dynamism in the Central American country’s tourism sector. According to the Noti 7 report, the DGAC stated that total international arrivals reached 869,385 passengers during the first four months of the year. This volume allowed authorities to maintain a monthly average exceeding 200,000 travelers, a figure that represents a high level of activity even outside the peak tourism season. January emerged as the strongest month of the period, with 248,934 passengers entering Guatemala through the country’s main air terminal. The DGAC report, cited by Noti 7, also detailed that 205,409 international arrivals were recorded in April. The pace of arrivals remained elevated despite April traditionally being considered a lower tourism month. These figures highlight the capacity of Guatemala’s airport infrastructure to sustain a steady and growing flow of foreign visitors. January positioned itself as the month with the highest migration activity, registering more than 248,000 international arrivals through the airport terminal. (Illustrative Image Infobae) International Departures from La Aurora Regarding departures, the DGAC reported 877,395 passengers leaving the country during the same period. January once again ranked as the busiest month, with a total of 243,759 departures. Authorities explained to Noti 7 that the difference between total arrivals and departures is due to transit and connecting passenger movements. It is worth noting that many travelers use La Aurora International Airport as a connection point to other destinations, creating a slight discrepancy between arrival and departure figures. The reported performance comes amid an international environment in which air mobility continues showing stronger dynamism compared to previous years. Authorities in the sector, supported by DGAC data, emphasized tourism’s role as a driver of the national economy and noted that the flow of international visitors directly contributes to the development of related services such as hospitality, domestic transportation, and local gastronomy. The difference of 8,010 travelers between arrivals and departures was attributed to La Aurora’s role as a regional transit and connection airport. (Illustrative Image Infobae) According to figures released by the institution, La Aurora International Airport not only maintains its relevance as Guatemala’s primary air gateway, but also demonstrates a positive trend in international traffic, an aspect authorities consider strategic for planning future investments in infrastructure and services. The DGAC reiterated that constant monitoring of airport movements allows authorities to optimize operations and respond to the needs of tourism and international travel. The institution also stated that interagency coordination and the adoption of modern technologies have contributed to the airport’s efficient management and passenger services. Additionally, the implementation of new solutions has improved security standards throughout the terminal. READ ORIGINAL ARTICLE HERE Guatemala’s Economy Grew 4.6% Through March Driven by Commerce and Industry Guatemala’s Monthly Index of Economic Activity (IMAE) recorded growth of 4.6% through March 2026, according to data released by the Bank of Guatemala (Banguat), reflecting a more dynamic performance of the national economy during the first quarter of the year. According to official information, cumulative IMAE growth stood at 4.4% in March 2026, above the 3.8% reported during the same period in 2025. The performance confirms a trend of sustained expansion in the country’s productive activity and demonstrates improvement compared to previous years. The indicator also shows favorable progress compared to 2024, when economic growth reached 2.9% during the first quarter, while in 2023 it stood at 4%. For the central bank, these results reflect a dynamic macroeconomic environment with signs of stability across different productive sectors. The IMAE is one of the main indicators used to measure the short-term performance of the Guatemalan economy, as it allows authorities to monitor economic activity before annual Gross Domestic Product

Costa Rica; U.S. Revokes Visas of La Nación Executives in Costa Rica; Wave of Violence and Organized Crime; Historic Rise of Women to Power in Costa Rica.

Friday, May 8, 2026. Costa Rica Costa Rica has long projected the image of stability in Central America, a country associated with ecotourism, foreign investment, environmental leadership, and democratic continuity. Yet beneath that image, the country is entering one of the most consequential transitional periods in its modern history. This week, our focus turns toward Costa Rica as shifting political dynamics, rising security concerns, organized crime expansion, and mounting institutional tensions begin reshaping the national landscape. Once viewed almost exclusively as the “safe haven” of the region, Costa Rica now faces growing pressure from transnational criminal organizations using the country as both a logistics and export hub for narcotics trafficking. Public concern over crime and insecurity has rapidly become one of the dominant political drivers in the country.  Politically, Costa Rica has entered a new phase following the February 1, 2026 national elections, where Laura Fernández Delgado, closely aligned with outgoing President Rodrigo Chaves, secured victory amid a campaign heavily centered on security, governance reform, and institutional change. The current administration’s strong anti-crime messaging and growing criticism of the judiciary have generated both domestic support and international concern regarding democratic balance and institutional independence.  At the same time, Costa Rica continues to remain one of the strongest tourism and residency destinations in Latin America. Its renewable energy leadership, relatively educated workforce, strategic geographic position, and continued appeal to expatriates and investors maintain important economic advantages. Tourism remains a central pillar of the economy, while foreign residency demand continues to grow among North Americans and Europeans seeking political stability, environmental quality, and lifestyle migration opportunities. This week’s review will examine Costa Rica through multiple lenses: geopolitical positioning, election outcomes and political continuity, organized crime trends, tourism dependency, energy and infrastructure development, foreign investment climate, residency migration patterns, and the broader implications for regional business and risk advisory operations throughout Central America. Brett Mikkelson Founder, B.M. Investigations, Inc. – Private Investigations in Panama TOP NEWS and TIDBITS: Costa Rica Achieves an Unprecedented Rise of Women in Political Power Despite the Conservative Surge This May 8 will mark an unprecedented moment in the history of Costa Rica: a woman serving as President of the Legislative Assembly will swear in another woman as President of the Republic, Laura Fernández Delgado, only the second woman to govern the Central American country, which is nevertheless experiencing a conservative surge under outgoing President Rodrigo Chaves Robles. That moment will be possible because this Friday, ruling-party attorney Yara Jiménez becomes the fourth woman to assume the presidency of the Legislative Assembly. The election of the attorney, who served as Secretary of Government under Rodrigo Chaves until this month, is the result of the sufficient majority held by the Sovereign People’s Party (PPSO), which secured 31 seats in the February elections, allowing it to control numerous legislative decisions. It also reflects a historic milestone in Costa Rican politics: the highest number of female legislators in the country’s two centuries of independence. With 30 women and 27 men, the unicameral Legislative Assembly for the 2026–2030 term consolidates the trend toward greater female participation in national political life. Only countries with authoritarian regimes surpass Costa Rica in female parliamentary representation: Rwanda with 63.8%, Cuba with 57.2%, and Nicaragua with 55%, according to the Inter-Parliamentary Union (IPU). Women also constitute the majority within the PPSO caucus, while the main opposition party, the National Liberation Party (PLN), has only one more man than woman. The leftist Broad Front also has a female majority, along with two single-member caucuses led by women. One of them is Claudia Dobles, former First Lady during the administration of Carlos Alvarado (2018–2022). After women’s suffrage was incorporated into the Constitution in the mid-20th century and three women were elected in 1953 — and only one in 1962 — Costa Rica gradually took steps to reduce gender gaps in positions of power. In 1986, the male-dominated Legislative Assembly, influenced by President Óscar Arias Sánchez, elected the first woman to preside over the legislature, Rose Marie Karpinsky. In the following 40 years, only two more women reached that position, although female representation steadily increased due to equality initiatives and legislation requiring political parties to maintain gender parity in candidate lists. This is how 2026 arrived to mark the milestone highlighted by Eugenia Zamora, President of the Supreme Electoral Tribunal (TSE), during her speech delivering credentials to the newly elected legislators. “It will be the first legislative body in our history composed mostly of women, the consequence not of chance or spontaneous circumstances, but of decades of struggle for a more democratic and more equal society.” Zamora herself became the first woman to lead the electoral authority in 2021. What some sectors celebrate as an achievement is not necessarily viewed the same way by the ruling movement that embodies this increased female representation. This has been explicitly stated by Pilar Cisneros, head of the ruling-party caucus during the Chaves administration, and in some ways echoed by Fernández herself. She rejected the feminine form of the title and chose to be called “president” rather than “presidenta,” as she will be sworn in on May 8. The 39-year-old political scientist takes power as a close ally of Chaves following elections widely viewed as a plebiscite on the 2022–2026 administration, with stronger support among men and older voters. “Inclusive language is associated with progressivism and is therefore targeted by this conservative sector,” explained María José Cascante, a political scientist and researcher at the University of Costa Rica specializing in gender issues. “It is not superficial; it is part of the cultural battle and something that touches deep sensitivities.” Cascante celebrates the rise in female representation as the result of affirmative policies, international commitments, and domestic activist pressure, while also warning of the strong presence of a conservative movement whose discourse explicitly rejects so-called “gender ideology,” a pejorative phrase commonly used by religious and allied groups. That sector is now part of the ruling coalition, as demonstrated by new meetings between Chaves and Fernández

Bolivia; Oil Nationalization Leaves Less Gas; YPFB Warns of Energy Crisis; Bolivia Rules Out Measures Affecting the Vulnerable.

Friday, May 1, 2026. Bolivia As we turn our focus this week to Bolivia, we begin with an observation that captures the broader challenge facing the country today, one that was shared with us by Joseph Weiman, a trusted colleague whose perspective we rely on when assessing Bolivia’s evolving risk landscape. Joseph noted that the Paz administration faces a significant task in rebuilding institutional credibility after years under MAS governance, particularly in the context of attracting Western investment. At the center of this effort is not just policy reform, but people, bringing in capable leaders who are both willing and able to navigate entrenched structural challenges, even when progress is slow and resistance is inevitable. This point resonates strongly with the realities we continue to observe on the ground. Investor confidence is not built through messaging alone; it is built through execution, consistency, and the demonstrated ability to overcome institutional friction. The selection of leadership, especially in key sectors, will serve as one of the clearest indicators of whether Bolivia is prepared to move in that direction. We’re grateful to Joseph for framing this so succinctly. His insight reflects exactly the kind of grounded, experience-based perspective we value as we assess risk across the region, and it sets the stage for a deeper look at Bolivia in this week’s report. Brett Mikkelson Founder, B.M. Investigations, Inc. – Private Investigations in Panama TOP NEWS and TIDBITS: After 20 Years, Oil Nationalization in Bolivia Leaves Less Gas and Greater Dependence State revenues during the governments of Evo Morales and Luis Arce (2020–2025) totaled approximately $60 billion, according to Bolivia’s president, Rodrigo Paz, who alleged mismanagement and corruption involving part of those resources, claiming they were not used to strengthen the state oil company. The nationalization of hydrocarbons—symbol of the political cycle initiated by former president Evo Morales in 2006—reaches its twentieth anniversary amid growing criticism in Bolivia due to the decline in gas reserves, investment, and revenues, as well as the limitations of the state-owned YPFB in sector exploration, which has increased dependence on fuel imports. On May 1, 2006, Morales (2006–2019) surprised oil companies by announcing from the San Alberto gas field in southern Bolivia the nationalization through a decree establishing “absolute control” over the sector. The decree forced companies—including Repsol, Petrobras, and TotalEnergies—to hand over production to the State and renegotiate contracts within 180 days or leave the country. The decree included the military occupation of oil fields and plants, as well as the acquisition of majority stakes in strategic companies, increasing the State’s share of gas revenues. Morales presented the measure as the third and final nationalization, following those carried out in 1937 against Standard Oil and in 1969 against Gulf Oil, both American firms. “It was a kind of shock for the sector, the way they came in with a military takeover. It was highly symbolic,” recalled Carlos Delius, former president of the Bolivian Hydrocarbons Chamber, who was a director at the time and later led the institution between 2010 and 2014. “Then came the ‘Héroes del Chaco’ decree, and together with Law 3058 (Hydrocarbons Law, in force since 2005), it sealed the fate of the sector—shifting from a system with modern contracts to one that changed everything and became excessively state-controlled,” he added. The nationalization aimed to increase State revenues, which experienced a boom period, with annual peaks exceeding $5 billion in 2013 and 2014, before the decline began. According to Delius, the measure slowed new investments, as companies chose to remain due to already committed capital in wells and plants. However, faced with reduced revenues, they focused on recovering investments rather than taking risks, losing interest in exploration. “The success of nationalization—capturing revenue—ultimately became its own poison. It was unable to replenish gas reserves,” he noted. Some figures State revenues during the governments of Evo Morales and Luis Arce (2020–2025) totaled around $60 billion, according to Rodrigo Paz, who alleged mismanagement and corruption involving part of those funds, which were not directed toward strengthening the state oil company. For hydrocarbons analyst Fernando Rodríguez, the balance after two decades is critical. Current gas reserves are estimated at around 3.7 trillion cubic feet (TCF), compared to 10.7 TCF in 2017. Additionally, gas production declined from 60 million cubic meters in 2014 to 27 million in 2025, lower than the 35 million recorded in 2006, according to the Fundación Jubileo. “They have dismantled YPFB, production has fallen, there are no reserves, and fundamentally we have destroyed the golden goose, which is YPFB—a company that will celebrate its 90th anniversary this year,” he said. According to Rodríguez, private investments were around $1.2 billion annually, but after being “driven away,” YPFB took over operations and failed in 15 projects in which it invested $1.5 billion, “not only due to inefficiency, corruption, and lack of technical capacity, but also because of geological reality.” “There is no sea of gas, and if we are lucky, we will find one or two megafields,” he stated. These difficulties have led to increased dependence on imports. Currently, Bolivia imports 90% of the diesel and 50% of the gasoline it consumes, and according to official projections, by 2029 the country will become a net importer of natural gas. READ ORIGINAL ARTICLE HERE New President of Bolivia’s YPFB Warns the Country Is “On the Brink of an Energy Crisis” The interim president of the state-owned company Yacimientos Petrolíferos Fiscales Bolivianos (YPFB), Sebastián Daroca, warned that Bolivia is “on the brink of an energy crisis” and that, if current trends are not reversed, the country may need to import natural gas within four to five years. If that occurs, Bolivia would shift from being one of the region’s largest natural gas exporters to an importer in less than two decades. “The lack of investment in recent years has caused our reserves to decline systematically, our gas and liquids production to fall, and this is a trend we must reverse as a national priority,” Daroca explained in an interview

Colombia; Security in Colombia Hits Investment and Growth; Gustavo Petro–Daniel Noboa Dispute Escalates; Ecuador–Colombia Trade Talks Begin.

Friday, April 24, 2026. Colombia: Between Stability and Strain Last week, we focused on Ecuador, a country navigating internal security challenges under President Noboa. This week, we turn to Colombia, where the conversation becomes more complex, and far more consequential for the region. While open conflict between Ecuador and Colombia remains unlikely, the underlying tension between the two reflects something deeper. Political friction between President Daniel Noboa and President Gustavo Petro is not simply diplomatic, it highlights fundamentally different approaches to security, governance, and the management of transnational threats. At the same time, Colombia is entering a critical electoral cycle. With presidential elections scheduled for May 31, 2026, the country faces a highly fragmented political landscape with no clear front-runner. A runoff election is widely expected, reinforcing what many already understand: Colombia is not politically unified, instead it is navigating competing visions of its future. For those less familiar with Colombia’s system, it is worth noting that President Gustavo Petro is not a candidate in this election, not by choice, but by law. Under Colombia’s constitutional framework, presidents are limited to a single four-year term with no immediate re-election. As a result, this election is not about Petro as a candidate, but about the continuation (or rejection) of his policies through those seeking to succeed him. That distinction matters, because while Petro is not on the ballot, his presidency is. This uncertainty is unfolding against the backdrop of President Petro’s “Total Peace” strategy, an ambitious effort to negotiate with armed groups while reshaping Colombia’s long-standing security posture. While the initiative reflects a shift in doctrine, it has also introduced operational ambiguity. Dissident factions, the ELN, and organized criminal groups continue to operate across key regions, often exploiting gaps created during transitional phases of negotiation and enforcement. For those operating in or entering Colombia, this creates a paradox.  The country is not in crisis, but neither is it fully stable.  Its economic resilience, institutional framework, and attractiveness to foreign investment remain intact. Yet, security fragmentation, regulatory unpredictability, and electoral uncertainty introduce layers of risk that cannot be ignored. The takeaway is straightforward:  Colombia is not a “no-go” environment, but it is no longer a “set-and-forget” market. It is a country that demands attention, context, and informed decision-making. Brett Mikkelson Founder, B.M. Investigations, Inc. – Private Investigations in Panama TOP NEWS and TIDBITS: Government and the Ecuadorian–Colombian Chamber of Commerce Agreed to Establish a Working Group The trade situation between Ecuador and Colombia, resulting from the imposition of fees and tariffs by both countries, was analyzed by members of the Ecuadorian–Colombian Chamber of Commerce (CAMECOL) and the Minister of Production, Foreign Trade and Investments, Luis Alberto Jaramillo. According to the binational association, during the meeting—held Wednesday in Quito—the impact of the current tariff situation with Colombia was discussed with Minister Jaramillo. As a result, and according to a CAMECOL publication, a working group was agreed upon for technical follow-up. Additionally, the association emphasized the importance of maintaining security without affecting the strategic commercial relationship. Meanwhile, the Ministry reported that the dialogue focused on exploring opportunities for cooperation and identifying joint initiatives. Ecuador began on February 1 to impose a 30% security surcharge on products imported from Colombia; this increased to 50% as of March 1, and will rise to 100% starting May 1 due to the Colombian government’s lack of implementation of control measures at the northern border. For its part, Colombia imposed a 30% tariff on 73 subcategories of Ecuadorian products starting February 24. However, on February 27, it indicated it was considering increasing the tariff to 50% not only for those subcategories but also for additional products, though that proposal was not finalized. It has now announced that starting May 1, tariffs will increase to 35%, 50%, and 75%. The new draft proposal includes 204 tariff subcategories subject to this three-tier structure. The 75% tariff will apply to the majority—151 subcategories; the 50% tariff to 24 subcategories; and the 35% tariff to 29. Among the main affected products are shrimp, fish, beans, bananas, plantains, rice, palm oil, and cocoa. Last Tuesday, Colombia’s Minister of Commerce, Industry and Tourism, Diana Morales, indicated that the decree would be signed this week. “It has already passed the Triple A Committee—customs, tariff, and foreign trade matters—it is currently under review, and it is possible that tomorrow it will be finalized, comments and observations reviewed, and then proceed to signing,” the minister told Colombian media. Meanwhile, prior to the meeting between CAMECOL and Minister Jaramillo, in an interview with Ecuavisa, Freddy Cevallos, president of CAMECOL, stated they would request temporary compensation measures from the national government following the impact caused by tariff increases amid the trade dispute with Colombia. Key requests included tax deferrals and support for working capital costs. “We do not want to go against the government’s position; in fact, we respect the president’s argument and background regarding insecurity. We also understand that trade cannot coexist with insecurity; we cannot expand markets if we have to pay extortion fees just to enter a new market or to carry out collections,” Cevallos stated. READ ORIGINAL ARTICLE HERE Security in Colombia Slows Investment and Growth: The Structural Challenge Facing the Economy Security in Colombia has evolved from a temporary issue into a structural constraint on economic development. Rising criminality not only affects public order but directly undermines the country’s competitiveness by increasing business operating costs, distorting markets, and discouraging investment—particularly in the most productive regions. According to recent economic analyses by Corficolombiana, this deterioration has become one of the main factors limiting economic growth. The country faces a more diversified criminal ecosystem, operating with its own economic logic and competing unevenly with the formal sector. In the global context, Colombia ranks among the countries with the highest levels of criminality. It holds second place in the Organized Crime Index, behind Myanmar, and is within the top 10 in terrorism, reaching its worst position since 2013 in 2025. These indicators reflect not only the persistence

Ecuador; Early Elections Shake the Country; Tensions with Colombia Could Be Resolved; Energy Investment by PowerChina Boosts the Nation.

Friday, April 17, 2026. Ecuador – Fond Memories I first stepped onto Ecuadorian soil in 1991. It was my first mission as a Strategic Debriefer outside of Panama, and as a 21-year-old Army interrogator, I couldn’t have been more eager. I was accompanied by our analyst, Jorge Luis Miño, who had been born in Ecuador but joined the Army after his family moved to the United States some 15 years earlier. From the beginning, Ecuador left an impression. I was fascinated by the food like potato soup with pellets of dried blood, cuy, and a curious emphasis on juice made from tree tomatoes. Quito itself was an experience. The altitude hit me harder than expected; I still remember the ride up the elevator at the Oro Verde, feeling as though I might pass out before reaching my room. A casual attempt to play soccer with locals quickly turned into a lesson in humility, and survival, forcing me into the safer role of goalkeeper. Even something as simple as diving into a swimming pool felt different… the moment my head went under, the sensation was closer to drowning than swimming. Shovelling a foot of ash from the roofs after a Pichincha eruption, visiting the Mitad del Mundo or simply the “middle of the earth”, the birds of Mindo, trout fishing in Cuenca, and galavanting the entire coastline from Esmeraldas all the way down to Guayaquil.  There really hasn’t been anything quite like the environmental diversity of Ecuador. Over the past three decades, I’ve had the privilege of traveling extensively throughout Ecuador, visiting its major cities and regions. I witnessed firsthand the country’s transition from the sucre to the U.S. dollar between January and September of 2000. Back in the early 1990s, the exchange rate hovered around 2,000 sucres to the dollar, and that same 2,000 sucres could buy you a full breakfast of eggs, sausages, toast, coffee, and juice. One rule, however, was always clear: no ice. Never drink the water, and never trust the ice. More importantly, Ecuador became more than just a place I worked. Over time, I was welcomed into a family that I still consider my own. I’ve had the honor of serving as a godfather at a wedding and to one of the sons, and I continue to look forward to visiting “mom” whenever the opportunity arises. Brett Mikkelson Founder, B.M. Investigations, Inc. – Private Investigations in Panama TOP NEWS and TIDBITS: Early Elections in Ecuador Shake the Political Landscape and Squeeze the Opposition The decision by the National Electoral Council (CNE) to bring forward local elections to this coming November — instead of February 2027 — has forced political parties into a race against time to define candidates, organize primaries, and navigate legal requirements. This scenario particularly affects Revolución Ciudadana, the movement of former president Rafael Correa, which is currently serving a nine-month suspension stemming from a prosecutorial investigation into alleged money laundering involving several of its members. The CNE justified the early elections based on a report warning of the potential impact of the El Niño phenomenon during the first months of next year. At stake are 222 mayoralties, 24 prefectures, five members of the controversial Council for Citizen Participation and Social Control — responsible for appointing key state authorities — and possibly a national referendum. The decision has raised alarms within Revolución Ciudadana, the main opposition force. The party was suspended for nine months by the Electoral Disputes Tribunal following a request from the prosecutor investigating alleged money laundering involving several of its members. While case details remain confidential, the sanction has a notable timing element: it will be lifted just after the early elections conclude. However, legal obstacles go beyond party status. Its most prominent figures, many seeking reelection, face a critical judicial landscape: Aquiles Álvarez, mayor of Guayaquil, is under three investigations and currently in pretrial detention in a maximum-security prison; meanwhile, the mayors of Quito and Cuenca, along with the prefect of Pichincha, are operating within a narrow margin between their electoral ambitions and potential disqualifying sanctions. Internally, the movement remains silent. No one is publicly identifying potential candidates or the parties they might align with to secure a place on the ballot. “Because they could go after them and block more political movements,” admits a party member. The early elections, combined with the temporary ban on the main opposition party, have transformed the race into a marketplace of political labels where ideology has become secondary. A striking example is Lucio Gutiérrez — who led the 2000 coup and governed for two years with Sociedad Patriótica — who has opened his party to candidates from the correísmo. “It’s time to turn the page. We are ready to talk,” he announced on social media. For analyst Esteban Ron, this phenomenon confirms that parties have devolved into mere electoral vehicles lacking doctrine. “Out of 17 national organizations, 13 are on a yellow card; they need to reach the voting threshold just to avoid disappearing,” he notes. Along the same lines, political scientist Pamela León uses a contemporary analogy: “Political parties have become like Airbnb — more rentable than representative. They meet the signature requirements, but their vote share does not reflect a real support base.” Currently, there are 231 organizations approved by the CNE, although their presence on the final ballot still depends on electoral council review. In contrast, Pachakutik — the political arm of the indigenous movement — is attempting to capitalize on the electoral environment by leveraging its territorial reach: 53 organizations and more than 10,000 communities. However, internal disputes threaten its cohesion. “Some prioritize individual prominence over the collective,” warns Apawki Castro, a member of the movement. This lack of unity has been reflected in the National Assembly, where the party has failed to ensure unified voting among its legislators on core principles such as water protection and opposition to mining. By aligning with the government on key issues, several lawmakers were ultimately expelled from the movement, weakening

Peru; Worst Political Offering in Decades”; “Economy Withstands Political Chaos”; “U.S. and China Compete on Peru’s Coast.

Friday, April 10, 2026. Peru As we’ve reported recently, Peru is heading into elections on April 12, with a most certain runoff in June.  It’s a country worth paying attention to right now, not because of who’s likely to win, but because of the environment going into it. The field is highly fragmented, with no clear frontrunner and no indication that whoever emerges will have strong political backing. That matters, because in Peru the issue isn’t just the election, it’s governability. The country has already gone through multiple leadership changes in recent years, and a divided outcome increases the likelihood of continued tension between the presidency and congress. In that kind of setting, decisions slow down, policies shift, and execution becomes less predictable. For companies operating in or looking at Peru, the exposure is not tied to the result itself, but to the level of uncertainty surrounding it. Peru remains a key market in sectors like mining, energy, and infrastructure, but the gap between what exists on paper and how things function in practice tends to widen in periods like this. Here’s what’s worth paying attention to as we head into the weekend elections. Brett Mikkelson Founder, B.M. Investigations, Inc. – Private Investigations in Panama TOP NEWS and TIDBITS: Alberto Vergara: “In the Peruvian Elections, the Most Serious Problems Coincide with the Worst Political Offering in Decades” The first round of the Peruvian elections is just around the corner. Citizens will choose their next president—along with representatives to Congress and the Andean Parliament—amid a maze of 35 options and a ballot larger than a family-sized pizza box. Political scientist Alberto Vergara (Lima, 1974), a professor at the University of the Pacific who lives between Montevideo and Lima, shares his views on a contest that, in his opinion, will not represent “a turning point but rather another stop along the trajectory of the cycle of instability in which Peru has long been immersed.” Question. Every election promises a better country. With what mix of emotions will Peruvians vote this Sunday? Answer. What defines this election is the gap between the most serious problems in decades and the worst political offering, also in decades. Unfortunately, these elections offer very few opportunities to alter the trajectory of political instability and institutional decay that prevails in Peru. For that reason, there are no candidates who generate enthusiasm, nor programmatically solid platforms. The prevailing mood fluctuates between apathy and resignation. Q. Will the cycle of chronic instability that has led Peru to have eight presidents in a decade be broken? A. I find that unlikely. The flaws that produced that instability are present in the parties and candidates with the greatest chances. At the same time, most new organizations replicate the same short-term and predatory logic that brought us here. Peruvian politics is riding without a jockey; there are no longer heavyweight actors, institutions barely restrain politicians, and the system’s legitimacy is at rock bottom. These elections reproduce all of that. Expecting a different outcome is naïve. I’ll reuse an expression I used years ago in another context: this is a system of alternation without an alternative. Q. How do you explain that a citizen must choose among 35 presidential options? A. Political organizations in Congress deliberately worked to deepen the flaws of Peru’s political system, such as facilitating the creation of “parties” or eliminating any mechanisms that prevent fragmentation (like primaries). We knew that if the rules of representation were not changed, dispersion and mediocrity would worsen—and that is exactly what happened. In 2021 there were 17 candidacies, and over the past five years the decision was made to maintain rules that foster dispersion and the resulting instability. One only has to look at how embarrassing the presidential debates have been—a mix of amateurism, stupidity, and disorganization. Thirty-five weak candidates are the very logical continuation of eight weak presidents in ten years. Q. Although uncertainty surrounds the process, once again Keiko Fujimori appears as the frontrunner. Why do the last four elections seem to come down to who will face her in the runoff? A. That is another major incentive for fragmentation. Since it is known that Keiko Fujimori is strong enough to reach the runoff but also widely disliked enough to lose it, all candidates hope to face her in that stage, which fuels fragmentation. And that outcome will probably repeat for the fourth time. Q. Everything suggests that the candidate with the greatest momentum is comedian Carlos Álvarez, who in the 1990s hosted rallies for Alberto Fujimori. A. In reality, there is a pack of four or five candidates with a chance of reaching the runoff. I don’t see anyone as a clear favorite. Peruvian elections never fail to deliver last-minute surges. That said, it is true that comedian Carlos Álvarez gained traction at the right moment, amid very poor debate performances. Q. In the south, there appears to be a vote of retaliation from those who were labeled ignorant for supporting Pedro Castillo and who believe that, beyond the coup attempt, he was never allowed to govern. A. Yes, the south has a historically tense relationship with central power, particularly with Lima. To that historical condition we must add that the Peruvian right sought to derail the elections that Castillo had legitimately won with southern votes, and on top of that, the massacre of dozens of citizens in the south during the government of Dina Boluarte. It is natural that this sense of retaliation exists. Q. Have the conditions worsened for Congress to continue governing the country? A. Over the past five years, the constitutional design has tilted in favor of Congress. And it will not be easy to dissolve it. To begin with, a Senate has been reintroduced that cannot be dissolved. In any case, the problem lies more in the practices and incentives already adopted by those who enter politics than in the formal rules of the system. Q. As you recently said, it is necessary to deeply

Changing with the Times; Fuel Prices Rise in Panama; Artemis II Reaches Earth Orbit; FAP Earns $146 Million.

Friday, April 3, 2026. Changing with the Times There’s a quiet truth that many individuals, and even more companies, learn too late: the world does not slow down for those unwilling to evolve. Change is no longer something that happens every few years. It is constant, accelerating, and often unforgiving. Entire industries are reshaped in months, not decades. And those who wait to adapt until change becomes obvious often find themselves reacting… instead of leading. At BM Investigations, we’ve spent years helping others uncover truth, manage risk, and navigate uncertainty. But today, we recognize something deeper… investigation alone is no longer enough. The challenges facing businesses and individuals are no longer isolated incidents. They are interconnected, influenced by shifting geopolitical tensions, economic volatility, technological disruption, and evolving social dynamics. To operate effectively in this environment requires more than answers, it requires perspective. That is why we are evolving. We are expanding beyond traditional investigative services and moving toward a broader role, one that integrates intelligence, risk advisory, and strategic insight across a global landscape. Our focus is not just on what has happened, but on what is coming and how to prepare for it. Because in a world that refuses to stand still, neither can we. And those who choose to evolve early… are the ones who shape what comes next. Brett Mikkelson Director, B.M. Investigations, Inc. – Private Investigations in Panama Comic Spotlight: Don’t miss The Mikkelson Files: #7 – The Case of The Antenna Affair. TOP NEWS and TIDBITS: Fuel Prices in Panama Will Increase Starting This Friday: These Are the New Prices The National Secretariat of Energy confirmed a new increase in the maximum retail prices of fuels in Panama. The new rates will take effect starting at 6:00 a.m. this Friday, April 3, and will remain in force until April 17, 2026. Breakdown of the increase per liter Fuel prices per liter and per gallon 95-octane gasoline 91-octane gasoline Diesel READ ORIGINAL ARTICLE HERE Panama Government Sets Fuel Prices for Transportation and Artisanal Fishing The Cabinet Council approved Resolution No. 24-26, authorizing the Ministry of Economy and Finance (MEF) to implement measures to temporarily stabilize fuel prices for public passenger transportation, cargo transport, agricultural machinery, and artisanal fishing. The measure sets the price of 91-octane gasoline at US$3.33 per gallon (US$0.88 per liter) and low-sulfur diesel at US$3.41 per gallon (US$0.90 per liter). It will remain in effect for up to 10 months, subject to market conditions, with a cap of up to US$150 million. The subsidy will apply to collective, selective, school, and tourism transport services, as well as to the cargo fleet and activities linked to the agricultural and artisanal fishing sectors. The Minister of Economy and Finance, Felipe Chapman, stated that this is a temporary measure in response to rising international oil prices, which directly impact the cost of living in the country. He added that the program will involve an additional allocation of state resources without affecting investment spending. Implementation will be overseen by the MEF and the Office of the Comptroller General of the Republic, in coordination with entities such as the Ministry of Government, the Land Transit and Transportation Authority, the Ministry of Agricultural Development, the Aquatic Resources Authority of Panama, and the National Authority for Government Innovation. The government also noted that other support measures remain in place, such as subsidies for the Metro and Metrobús, as well as initiatives related to electricity rates and cooking gas. The decision responds to the sustained increase in international fuel prices and their impact on transportation, logistics, and productive activities nationwide. READ ORIGINAL ARTICLE HERE Artemis II Crew Reaches Earth Orbit The crew of NASA’s Artemis II mission reached Earth orbit on Wednesday, a U.S. space agency official announced shortly after the rocket’s liftoff. Eight minutes after launch, the Orion capsule separated as planned from the massive SLS rocket tanks, which propelled it into space and placed it into Earth orbit. The four astronauts will now remain in orbit around Earth to conduct a series of tests before heading toward the Moon on Thursday, located more than 384,000 kilometers from Earth. The approximately 10-day journey will mark the first crewed flight around Earth’s natural satellite in more than 50 years. Three men and one woman are set to embark this Wednesday on the first crewed mission to the Moon since 1972— a historic odyssey aimed at propelling the United States into a new era of space exploration. NASA’s Artemis II mission has been years in the making, with repeated setbacks. However, it is finally scheduled to launch from Florida this Wednesday, April 1 at 6:24 p.m. local time (22:24 GMT). The astronaut team, made up of Americans Reid Wiseman, Victor Glover, and Christina Koch, along with Canadian Jeremy Hansen, is expected to remain on the mission for about 10 days. The spacecraft will travel at high speed around Earth’s natural satellite without landing, in a mission similar to Apollo 8 in 1968. The journey will mark several milestones. It is the first time that a woman, a Black man, and a non-U.S. citizen are part of a lunar mission. It is also the first crewed flight of NASA’s new lunar rocket, known as the SLS. The massive orange-and-white rocket is designed to enable the United States to return to the Moon on a recurring basis in the coming years. The long-term objective is to establish a permanent base that will serve as a platform for deeper exploration. READ ORIGINAL ARTICLE HERE Panama Savings Fund Earned $146 Million, Surpassing Last Year’s Figures The Panama Savings Fund (FAP) reported that it closed 2025 with audited financial results showing a return of 9.08% before costs, exceeding the 7.12% recorded in 2024. In terms of net earnings, the Fund generated US$146.8 million, compared to US$94.1 million the previous year, while its net assets reached US$3,084.8 million at the end of 2025. Performance was driven by strategic asset allocation and market conditions, with a portfolio that