Belt and Road Initiative Comes to Central America
Belt and Road Initiative Comes to Central America by Rory – The Daily Coin
I have a new contact, “Panny”, in Panama and the information he has been sharing has been incredibly interesting. One item of particular interest, is the change to their currency. Panama has made the decision to be rid of the $1 bill from circulation.
This is interesting. Here the U.S. Dollar is used but is called a Balboa. There are 1, 5, 10, 25, 50 centavo coins that are the same size as the U.S. coins so you have both U.S. and Panama coins circulating. The coin that is 100 centavos or equal to 1 dollar also circulates. Tonight on tv we got the announcement that the paper one dollar bill will no longer be used and only the one balboa (100 centavos) coin.
This currency announcement was about two weeks prior to the G20 meeting in Argentina and the scheduled meetings between Panamanian President Juan Carlos Varela and Chinese President for life, Xi Jinping.
With the G20 happening in Argentina it seems that Chinese President for life, Xi Jinping, decided to pay a visit to one of the newest vasal states, Panama. China recently granted Panama a direct flight moving it from Los Angeles to Panama, which tells you how they feel about the future of Panama and the relationship between the two nations.
Now we learn, from a Panamanian news agency, that Panama has actually signed 28 agreements with China. It sounds like the Belt and Road Initiative is coming to Central America and, once again, the U.S. media is in “black-out” mode. I have not heard a word about 28 separate agreements between Panama and China that include all types of infrastructure projects from roads, to water to bridges and airports. You name it China is building it.
image / NewsRoom Panama
Chinese President Xi Jinping, and the president of Panama, Juan Carlos Varela, signed 28 agreements on Monday, December 3 with which they seek to face the challenges of protectionism and promote the liberation of trade in Latin America with Panama as a regional commercial hub.
President Varela, during a public conference, told media that the relations open a future of growth and prosperity, because “both nations believe in free and fair trade that benefits our peoples and is a key engine for economic growth. and for social development. ‘
Among the agreements signed are protocols that will allow Panama producers to export fruits meat and sea products, to China, these instruments will promote the growth of these productive sectors’, in addition to the educational cooperation agreement that ensures scholarships for higher education for Panamanians in China, and Chinese in Panama.
An understanding between the National Bank and the Development Bank of China, laying the basis for cooperation in the granting of financial services to business projects.
Multiple entry visas for ordinary passport holders. They are stamped visas of multiple entries, which will have a duration of stay that does not exceed 90 days, valid for 5 years.
Agreement that seeks to promote cooperation in science, technology, and innovation, establish a strategic framework through the execution of joint projects for the strengthening of systems in these fields.
Cultural cooperation agreement that promotes collaboration between both countries in art, industries, and cultural heritage, through assistance and collaboration between their artistic groups, museums, libraries.
In environmental matters, with which they will implement projects, research for the prevention and management of air pollution, water, waste and the development of policies and environmental management, education, awareness, mitigation in the face of climate change. Source – NewsRoom Panama