Friday, June 19, 2026.
Panamá
Last night, our national football team took the field wearing the colors of our country and carrying the hopes of millions of Panamanians. Regardless of the final score, our players represented Panama with pride, determination, and heart. For a nation of just over four million people, competing on the international stage is never something we take for granted. Every match serves as a reminder of how far Panama has come and how much can be accomplished through hard work, discipline, and perseverance. That same spirit can be found far beyond the football field. Panama continues to play an increasingly important role in the region and around the world. As a center for commerce, logistics, finance, and transportation, our country remains a vital link connecting continents, economies, and cultures. The Panama Canal continues to serve as one of the world’s most strategic trade routes, while new investments and infrastructure projects help position the country for future growth. Of course, Panama is not without its challenges. Public debate surrounding economic issues, governance, security, and national development continues to shape the country’s future. These conversations are important, and they reflect a nation that is actively engaged in defining what comes next. While opinions may differ, the shared goal remains the same: a stronger, safer, and more prosperous Panama for future generations. In this week’s edition, we take a closer look at several of the issues and opportunities currently shaping our country. From developments affecting business and investment to matters of public interest and national importance, we hope to provide insights that help our readers better understand the changing landscape around us. Above all, this week is a celebration of Panama itself—a nation that continues to demonstrate resilience, ambition, and an unwavering ability to move forward. Whether in sports, business, public service, or entrepreneurship, Panama’s greatest strength has always been its people.
¡Que viva Panamá!
Brett Mikkelson
Fundador, B.M. Investigations, Inc. – Private Investigations in Panama
How Can We Understand Panama’s Most Painful World Cup Defeat?
The Red Team had more possession, controlled long stretches of the match, and came close to earning a result, but ultimately paid the price for the small details that often make all the difference.
For 94 minutes, Panama was on its way to a historic result. In the end, it walked away empty-handed.
The 1–0 defeat to Ghana in its World Cup debut left a strange feeling. On one hand, Thomas Christiansen’s side proved that it belongs on this stage, that it can compete toe-to-toe with quality opponents, and that it did not come to Canada merely to participate. On the other hand, it once again encountered a reality that has followed the Panamanian national team since Russia 2018: World Cups do not forgive mistakes.
The final statistics reflect part of what happened. Panama finished with 68% possession compared to Ghana’s 32%. For much of the match, it was the team dictating play, building from the back, attempting to create opportunities, and constantly looking to stretch the field through the wings.
However, having more possession does not always mean controlling a game.
Ghana accepted a secondary role for much of the contest. Organized and disciplined, it closed down central spaces and relied on a much simpler formula: recover the ball and attack quickly in transition. That strategy ultimately decided the match when the clock had already entered stoppage time.
And that raises one of the biggest questions from the night in Toronto.
With a draw seemingly secured and Panama’s first-ever World Cup point within reach, Panama chose to keep pushing for victory. The team did not abandon its attacking approach, continued to push its lines forward, and kept players ahead of the ball. The ambition was admirable. The outcome was devastating.
On a rapid transition, Ghana found the spaces it had been waiting for throughout the match. Caleb Yirenkyi capitalized on a lethal counterattack and silenced the Panamanian supporters in the 95th minute.
The play left many with the feeling that Panama was punished precisely for trying to win.
Another factor that proved more significant than expected was the departure of Adalberto Carrasquilla.
“Coco” returned after weeks of physical uncertainty, and while he was on the field, he provided composure, vision, and clarity in possession. Once he left the match, Panama maintained control of the ball but lost some of its attacking sharpness.
The team continued to dominate possession, yet it became increasingly difficult to find routes into the opposing penalty area.
The substitutions also failed to produce the desired impact.
While Ghana found solutions from the bench, Panama appeared to lose some of its competitive edge. The African side’s substitutes brought speed, energy, and aggression for the final stretch. On the other side, Panama’s changes were unable to maintain the intensity or address the defensive transition issues that were beginning to emerge.
Perhaps that is where another explanation lies.
This was only Panama’s fourth World Cup match in its entire history.
Four matches. Four defeats.
It is a harsh statistic, but it also helps explain part of the context. While teams like Ghana have accumulated decades of experience competing on this stage, Panama is still building its World Cup pedigree. These are matches that demand absolute concentration for 90 minutes, where a single decision, substitution, or poorly defended transition can ultimately determine everything.
That is why this defeat hurts so much.
Because this time Panama was not comprehensively outplayed. It was not a night like those against Belgium or England in Russia 2018. This time, Panama competed, challenged its opponent, showed personality, and came within seconds of earning the first World Cup point in its history.
That is precisely why the blow is so difficult to digest.
The good news for Christiansen is that his team showed enough quality to compete in Group L. The bad news is that the margin for error has virtually disappeared.
Now Panama must recover quickly. The next challenge will be Croatia, a team with experience, quality, and its own urgency to earn points after losing to England.
The World Cup waits for no one.
And after a night that seemed destined for history but instead became one of the most painful defeats in Panamanian football history, the Red Team will have to prove that it has learned the cruelest lesson a World Cup can teach.
Panama to Welcome More Than 2,500 Participants and 92 Delegations for the Bicentennial Celebration and OAS General Assembly
Panama City is preparing to welcome more than 2,500 participants and 92 international delegations next week as part of the commemoration of the Bicentennial of the Amphictyonic Congress of Panama and the 56th General Assembly of the Organization of American States (OAS). According to EFE, the event will bring together the presidents of Guatemala, Honduras, Colombia, and Ecuador, with at least two additional heads of state expected to confirm their attendance, along with the Vice President of El Salvador.
Panamanian authorities emphasized that the convergence of both events represents one of the region’s most significant diplomatic milestones of the year. Panama’s Minister of Foreign Affairs, Javier Martínez-Acha, stated during a press conference reported by EFE: “These figures reflect the international community’s confidence in Panama and consolidate the country as a premier diplomatic platform for regional and hemispheric dialogue.”
The official agenda will begin on June 22 with the Commemoration of the Bicentennial of the Amphictyonic Congress of Panama. On the same day, the 56th OAS General Assembly will also commence and continue through June 24. These activities will be complemented by forums, technical meetings, and commemorative events running through June 27, according to EFE.
The list of attendees includes Bernardo Arévalo de León, President of Guatemala; Nasry Asfura, President of Honduras; Gustavo Petro, President of Colombia; and Daniel Noboa, President of Ecuador. Salvadoran Vice President Félix Ulloa has also confirmed his attendance. The event is expected to attract 35 foreign ministers, 10 ministers from other government portfolios, 113 ambassadors and permanent representatives, as well as delegations from eight international organizations.
Expected Economic Impact
Panama’s Ministry of Foreign Affairs estimates that the economic impact on the city could range between USD 40 million and USD 50 million, driven by spending on accommodations, transportation, and food services by participants. According to EFE, the event will require an operational budget of approximately USD 15 million, but the resulting economic activity is expected to generate between two and three times that amount for the local economy. The hotel sector anticipates more than 2,500 occupied room nights during the week.
The Government of Panama also highlighted the historical significance of hosting both events simultaneously. Two centuries ago, in 1826, the Amphictyonic Congress of Panama—convened by independence leader Simón Bolívar—laid the foundation for international dialogue and multilateralism in the Americas, becoming a direct precursor to the OAS. Deputy Minister of Multilateral Affairs and Cooperation Carlos Guevara Mann stated that the bicentennial “marks the 200th anniversary of the first Congress of American States, a fundamental milestone in the history of international relations in the hemisphere and the world.”
Guevara Mann added that the Amphictyonic Congress “established for the first time the possibility of creating a multilateral system in the Americas and provided an initial impetus for international cooperation and a system based on the primacy of international law.”
During the OAS General Assembly, foreign ministers from the organization’s 35 member states will participate, while presidents and heads of state will primarily attend the Bicentennial ceremonies and related parallel events. The Panamanian government views the simultaneous hosting of both forums as an opportunity to strengthen regional integration mechanisms and further position Panama as a diplomatic leader in the hemisphere.
What to Expect from the OAS General Assembly
The Ministry of Foreign Affairs also highlighted the participation of representatives from international organizations, who will address issues including democracy, human rights, economic development, and hemispheric cooperation.
In the coming days, additional heads of state are expected to confirm their attendance, and security and logistical protocols will be finalized to ensure the successful execution of all scheduled events.
Panama and the European Union Identify Global Gateway Agenda Opportunities for the Region
Within the framework of the 2026 Pro Tempore Presidency, Panama concluded the meeting of the Cooperation Subcommittee, which defines European Union-funded initiatives in mobility, security, and digital partnership, supported by the European Union’s Global Gateway strategy.
The Ministry of Foreign Affairs, through its Directorate of International Cooperation, concluded on Wednesday, June 17, the second phase of the first meeting of the Cooperation Subcommittee of the Association Agreement between Central America and the European Union (EU).
The meeting, held virtually, took place under the framework of the Pro Tempore Presidency of the Agreement, which is being held by the Republic of Panama during 2026. It was co-chaired by Carlos Fitzgerald, Director of International Cooperation, and Matteo Banti, Head of EU Cooperation for Central America, Panama, and Costa Rica.
During the session, the delegations exchanged observations on the opportunities presented by the Global Gateway Agenda for the region, which had been introduced by the EU during the first phase of the meeting, and identified new areas of mutual interest.
The participants also highlighted the importance of initiatives that will receive European Union funding and are focused on sustainable mobility, natural resource conservation, security, digital partnership, and electrical interconnection as strategic pillars of the cooperation agenda.
The Panamanian delegation participating in the session included representatives from the Directorate of International Cooperation, the Directorate of International Economic Relations, and Panama’s Mission to the European Union.
Panama’s Economy Grows 4.8% in the First Quarter of 2026
The Ministry of Economy and Finance (MEF) reported that Panama’s economy grew by 4.8% during the first quarter of 2026, according to the Quarterly Gross Domestic Product (GDP) report released by the National Institute of Statistics and Census (INEC) of the Office of the Comptroller General of the Republic.
This result reflects the strong performance of the national economy and significantly exceeds the average growth observed across Latin America during the same period. Furthermore, the growth achieved in the first quarter already surpasses the annual forecast of 3.9% for Panama in 2026 estimated by international organizations, indicating a more dynamic start to the year than originally anticipated.
According to the report, GDP reached a value of B/.22.55 billion, representing an increase of B/.1.03 billion compared to the same period in 2025.
Among the domestic economic activities that drove this performance were wholesale and retail trade, construction, land passenger transportation, hotels and restaurants, real estate and business activities, as well as arts, entertainment, creative industries, and other service activities. These results demonstrate that growth is broad-based and diversified, supported by investment, consumption, and services.
Regarding sectors linked to international trade and global markets, the report highlights growth in Panama Canal operations, air transportation, and commercial activities within the Colón Free Trade Zone, confirming the strength of the country’s logistics platforms and international service sectors.
The GDP results indicate that the national economy maintained a growth trajectory at the beginning of 2026, driven primarily by the dynamism of trade, construction, and services, as well as the performance of strategic activities connected to international commerce.
This economic performance is complemented by a significant improvement in the country’s sovereign risk perception. Since 2024, Panama’s risk indicators have declined by more than 65%, reflecting increased investor confidence in the country’s fiscal sustainability and economic growth prospects.
The growth recorded during the first quarter of 2026 confirms that Panama continues to advance through a process of economic stabilization built on solid foundations and genuine momentum, supported by the recovery of strategic sectors, strengthened confidence, and the implementation of public and private investments that contribute to development and job creation.
JPMorgan Incorporates the Reopening of Cobre Panamá into Its 2027 Economic Outlook
The financial institution believes that the resumption of mining operations could become one of the main drivers of economic growth, public finances, and investor confidence in Panama.
Panama continues to strengthen its position as one of the Latin American economies with the strongest growth prospects. This is reflected in a recent report by JPMorgan, which incorporates the reopening of Cobre Panamá into its base-case scenario for the second half of 2027 and identifies it as one of the factors with the greatest potential to boost the country’s economy in the coming years.
The analysis forms part of a broader assessment of Panama’s fiscal and economic outlook. In the report, the institution highlights that Panama maintains favorable conditions to preserve its investment-grade status, supported by progress in fiscal consolidation, economic performance, and the strengthening of public revenues.
According to the report, the country is showing positive fiscal signals. Revenues of the Non-Financial Public Sector increased by 13.2% year-over-year through April of this year, driven by stronger tax collection and improvements associated with the performance of various government entities. At the same time, capital expenditures declined compared to the same period last year, contributing to the achievement of the fiscal targets established by the government.
Adding to this positive outlook is the performance of the Panama Canal, whose revenues increased by 10% year-over-year, strengthening the country’s fiscal position and reinforcing its role as one of Panama’s primary economic engines.
However, for JPMorgan, the factor with the greatest potential to transform the economy in the medium term is the reopening of Cobre Panamá. The institution projects that the mine could resume operations during the second half of 2027 and estimates that, once operating at full capacity, it could account for approximately 4% of the country’s Gross Domestic Product (GDP).
Beyond the mining activity itself, the report highlights the impact that a reopening would have on multiple economic variables. These include economic growth, export generation, investment attraction, and the strengthening of the country’s external accounts.
The inclusion of Cobre Panamá in the baseline scenario of one of the world’s leading financial institutions also sends an important signal to international markets. From an economic perspective, it suggests that global financial actors consider it possible that Panama will move toward a decision that allows the recovery of one of the country’s most significant productive projects of the past decade.
For investors, institutional stability, the ability to generate sustained growth, and the existence of strategic projects remain key factors when evaluating opportunities in a country. In this context, the reopening of the mine is linked to a broader discussion about competitiveness, confidence, and economic development.
JPMorgan’s projection adds to the growing debate about the opportunities Panama has ahead to strengthen economic growth and consolidate its position as a regional logistics, financial, and investment hub. In this scenario, the potential reactivation of Cobre Panamá is viewed not only as a mining-related decision, but as a variable capable of significantly influencing the country’s economic performance in the years ahead.
With an economy that continues to show positive prospects, stronger fiscal revenues, and one of the most important logistics platforms in the Americas, Panama remains among the markets attracting the attention of international investors and analysts. According to JPMorgan’s outlook, the reopening of Cobre Panamá could become one of the primary catalysts of this new phase of economic growth.
