Outside of a very small group of governments including El Salvador, nearly the entire hemisphere has decided to ignore Brazil’s change of government, some eagerly and others reluctantly, the administration of Michel Temer in Brazil. While certain media, including Venezuelan-backed Telesur, have tried to portray the Temer administration as a U.S. plot, in reality, most of the hemisphere is de-facto accepting the interim president.
On 5 May 2015, Vice President and Foreign Relations Minister Isabel Saint Malo de Alvarado spoke at the Council on Foreign Relations in Washington, DC. In her remarks, Saint Malo emphasized two major themes: human development and transparency.
While she candidly acknowledged Panama’s history as an opaque and often corrupt steward of financial resources, she highlighted President Juan Carlos Varela’s determination to move quickly and decisively in a new direction. Regarding the so-called ‘Panama Papers,’ Saint Malo noted the publications referred to banks operating in 21 jurisdictions, none in Panama. She added that of the offshores revealed in the leak so far, 20 percent were registered in Panama, but 80 percent were registered elsewhere.