Wikileaks Panama: Superb coverage from Bananama Republic on the Martinelli leaks

The reaction from the recent Wikileaks revelations in Panama may mark the first case when the leaked cables have significantly weakened a current government administration and a country President. Okke over at Banamana Republic has done a great job of stringing together the scandals so far and the three posts over at his site are today's required reading.

The first post is on how the country's Veep called the the current Panama Canal expansion "a disaster", which is interestng enough but nothing destabilizing. However it was a mere hors d'oeuvre for what followed in....

...the second Banamana Republic Wikileaks post, an absolute gem. Here we get a great rundown an analysis of the big scandal currently hurting President Martinelli and his government, how he tried to strongarm the US into giving him illegal phonetaps on his political enemies, plenty more rogue behaviour detailed and a character assessment of the Prez dude from the US ambassador that will remain for the ages; "His penchant for bullying and blackmail may have led him to supermarket stardom but is hardly statesmanlike. He risks losing the good will of his backers in the Panamanian elite and business communities. Martinelli is not a member of Panama’s traditional elite, and he could be on thin ice if his “anti-corruption” measures end up being seen primarily as shake-downs for fast cash."

Then yesterday we had the third installment of Bananama Republic's Wiki-coverage, with the fallout from the wiretap revelations and more on the DEA in Panama.

Go read them all now, especially that second one. Top stuff and we very heart Bananama Republic.

Panama: "A brilliant future for mining" (according to its President at least)

Here's a direct translation of this story that hit the wires tonight.

7:03pm. Panamá (ACAN-EFE). - President Ricardo Martinelli stated today that he is willing to make changes in the mining law (of Panamá) to facilitate investments in Panamá from South Korea, The United States of America and Canada. He said that in Panamá there are "great opportunities" for mining development in the copper deposits in the country.

"We told the President of South Korea (Lee Myung-Bak) that we would change the law. With the greatest of pleasure we'll change it. I want investors from the government of Korea, from Canada, from The United States and from the stock market in mining companies here," Martinelli said during a speech to a business forum. Martinelli emphsized that "in Panamá there is great opportunity in mining" and said that the Cerro Colorado mine in the province of Chiriqui "has proven reserves larger than the el Teniente mine in Chile. Who knows, we may be sitting on the biggest deposits of copper behind Chile," he said.

The President added that the country could not remian prostrate and lose this "great opportunity" for investment that this sector presents.

"In Panamá there is a brilliant future in mining, and where there is copper there is also gold and silver," Martinelli said, and named the example of a mine that will open in Panamá in 2013 with an investment of U$4Bn.

Panama: Good news and bad news about the new Prez

It was a normal kind of LatAm campaign
(Martinelli centre...DUH)

Ricardo Martinelli, for the right-leaning "Democratic Change" party (original, huh?) has tonight been elected as the new President of Panama with around 60% of the popular vote.

The Good News
He's already a multimillionaire so he won't feel the need to line his own pockets.

The Bad News
Dunno yet, but it'll come....it'll come.

Anyway, congrats to the rich dude and I hope he looks after his country. The job starts July 1st. Mojitos served.