Panama Makes OECD White List

Panama has been placed on the Organization for Economic Cooperation and Development’s (OECD) list of financially transparent countries. The OECD’s White List consists of countries which have substantially implemented international standards for the exchange of information. Previously, the OECD had included Panama on its list of countries considered to be tax havens. The promotion came a day after S&P revised its outlook on Panama’s BBB minus rating from positive to stable and in the wake of the signing of a double taxation treaty with France.