Latin American Perspectives on the “Panama Papers”

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On April 3, 2016, news of the so-called “Panama Papers” broke with powerful force in the international press, catching many world leaders and celebrities in a harsh spotlight that points to potentially untoward activities. Millions of documents from a prominent Panamanian law firm, Mossack Fonseca, had been leaked to the German newspaper Südeutsche Zeitung that in turn brought in the International Consortium of Investigative Journalists (ICIJ) and other news organizations to plumb their depths for over a year before going public. Mossack Fonseca has denied any wrongdoing, and notes that the leak was illegal.  Governments around the world are investigating possible financial wrongdoing by the rich and powerful, including tax evasion and money laundering, though many of the complex financial arrangements are not necessarily illegal.  Many Latin American leaders and notables were Mossack Fonseca customers, and may have to answer some awkward questions.  Panamanians pushed back against the image of their country as a renegade tax haven, while pundits offered interpretations.