This Op-Ed piece was written by the then-president of Panama, Juan Carlos Varela, and was published by the New York Times.

It was written when the Panama Papers – more than 11 million documents that were hacked and released – were dominating the news about international or offshore corporations.

The president wants to make it clear in this article that the name, “Panama Papers,” is, in itself, somewhat misleading and even unfair. They were labeled that way because the documents came from a single law firm in the country, but the problem of tax evasion goes far beyond Panama’s borders.

After all, the files had information on more than 14,000 banks, law firms, corporate incorporators, and other groups that were from more than 100 different countries.

The president then goes on to reiterate the country’s commitment to all the necessary reforms as demanded by the international committee and points out all the steps that have already been taken.

He is realistic about the situation, though, and does say that more work needs to be done. Still, the country boasts a stable democracy and strong financial industry. So there is a lot to be optimistic about.

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