Panama, Apr 12 (Prensa Latina) The next step of the Government to face the image crisis caused by Panama Papers scandal will be to coordinate actions with representatives of the financial and legal system to maintain economic stability.
President Juan Carlos Varela and Vicepresident Isabel de Saint Malo summoned the board of directors of the National Banking Association, the Bar Association of Lawyers, the Association of International Attorneys and the Chamber of Commerce, Industry and Agriculture.

These instances make up the High-Level Presidential Commision for the Defense of International and Financial Services (Candsif), announced recently by Varela, as consulting of the financial and legal services that this type of services can have the platform to respond to international standards of security.

"The Government will be taking each step from the integral perspective of the country; reason why it is so important to maintain communication and dialogue with the sectors directly involved in our financial and legal services", said the Vicepresident and Foreign Minister, who presides Candsif.

Last Saturday Saint Malo gathered a team of the Foreign Ministry to advance in the diplomatic strategy to be implemented.

The previous week France reinstated the isthmus country in the list of tax havens, base don interpretations generated by the Panama Papers scandal and yesterday statements of German Minister of Economy, Wolfgang Schaeuble, were known with threats to include the Central American nation in a black list.

In both cases they are pressures on Panama to comply with the regulation of the Organization of Cooperation and Economic Development (OCED) on multilateral trade and automatic financial information, to which the country opposes to protect the banking sector and asked to comply through bilateral agreements.

Panama experts consider that as a consequence of sanctions and the image of tax haven promoted by the journalistic scandal, there is the danger that part of the foreign capital is deposited in entities of the International Banking District, whose consequences could be in the order of 20 percent of the money.

There are also fears of contraction in direct foreign investment, besides the lack of confidence in the platform of legal services.