The inclusion of Panama in the Colombian government's gray list could mean surcharges on capital repatriation by investors in the country.
"If Panama is included on a (Colombia's) gray list, it will affect the Colombian investments that exist in Panama and which have a strong presence in banking and other industries, because they will pay a surcharge when they repatriate their profits," the outgoing Minister of Economy and Finance in Panama, Frank De Lima, said.
The mere name of the bill approved by Congress "An Act to Discourage Entry of Capital from Abroad" reveals how dangerous this regulation could be for the Costa Rican business climate.
An article in Nacion.com reports that "...This bill was submitted to Congress a year ago, promoted by the Government, after the central bank detected a wave of speculative capital attempting to take advantage of interest rates in the country and then take it abroad."
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