With Venezuelan President Hugo Chavez Frias reportedly near death, the private aircraft that routinely ferry millions of illicit US Dollars, accumulated by Venezuelan PEPs and drug-trafficking generals, to small airstrips in the Republic of Panama, (and on into those local banks in Panama City that ask no questions about Source of Funds), are not flying in this week.
Either all the usual suspects are waiting for regime change, or they are short on cash at the moment. Consider this a strong signal to start paying close attention to Venezuelan domestic politics. Most experts expect a bloody civil conflict.
Since so much of Panama City's rapid growth can be attributed to Venezuelan "flight capital," where "investors" build office buildings and massive oceanfront residential apartment buildings, all without financing, is the building boom destined to crash ? If there is a stutter, consider whether you might want to raise Country Risk on the Republic of Panama. Meanwhile, where are the PEPs and narco-generals warehousing their cash ?
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