Word: panama
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...notice and a plea bargain ought to be willing to give the American worker 60 days notice before they are thrown out on the street," Dukakis said. He referred to a tentative deal to drop drug charges against the Panamanian strongman if he agrees to relinquish power and leave Panama by August...
...Government and American corporations have unwillingly helped to soften the pinch. The Panama Canal Commission, which is jointly administered by Panama and the U.S., is bringing cash into the country by airplane to meet its $3.3 million biweekly payroll. Moreover, despite the freezing of U.S. toll payments, the canal racked up a record $30.3 million in revenues during March...
...Panama's short-term ability to get by may be only forestalling severe economic setbacks. Orville Goodin, Panama's Finance Minister, predicted last week that the country's output of goods and services will shrink 20% in 1988 from last year's level. Tourism, which in 1987 brought in $187 million, is practically moribund...
Harmed most of all may be Panama's banking industry, which has served as a haven for thousands of depositors who demand confidentiality and security. After anti-Noriega demonstrations broke out last summer, nervous investors quickly yanked at least $500 million. When banks reopened last week, the government allowed depositors to make a monthly withdrawal of only 25% of checking-account balances, to a maximum of $10,000, and just 5% of savings accounts. Bankers fear that the restrictions, designed to control the cash drain, will ruin Panama's reputation as a safe haven. Says one: "We have been mortally...
...package in return for big concessions. Among them: long-term leases for U.S. military bases and cooperation from Panamanian banks in prosecuting American tax cheats. But as the standoff continues, Noriega may find new benefactors. Libyan Leader Muammar Gaddafi, for instance, is said to be ready to loan Panama $20 million. However, Swiss bankers have reportedly turned down Noriega representatives who tried to set up a numbered account as a conduit for the money...