This Friday July 18 the Minister of Economy and Finance, Felipe Chapman, presented a review of his year in charge of the country\u2019s public finance portfolio. \u00a0The Minister of Economy\u00a0explained that while banana production represents a percentage point of the gross domestic product (GDP), it is not entirely concentrated in\u00a0Bocas del Toro, but rather distributed across multiple provinces. However, he clarified that the multinational\u2019s departure remains a serious situation for\u00a0Bocas del Toro. \u00a0<\/p>\n
\u201cThe\u00a0Chiquita\u00a0case\u00a0is a sad and regrettable one, and the human consequences have been devastating for a province with one of the lowest incomes in the country,\u201d he said.\u00a0 \u201cWhen we look at the macro effect at the country level, the size isn\u2019t enough to move the needle, but it does affect the Panamanian economy by tenths of a percentage point,\u201d\u00a0Chapman\u00a0commented\u00a0this Friday July 18 during the presentation of his first-year management report.\u00a0<\/p>\n
Layoffs<\/p>\n
Chapman\u2019s statements\u00a0come as\u00a0Chiquita Panama, together with Ilara Holding INC, will announce this Thursday that as of July 18, 2025, it will terminate the employment relationship with 1,189 daily workers, citing economic reasons, in accordance with article 213, section C, of the Labor Code.\u00a0 The official statement clarifies that only employees who have a current relationship with the companies and who have not been found to be on the job will be terminated.\u00a0 To date, neither\u00a0Chiquita\u00a0Panama nor the\u00a0Ministry of Labor\u00a0has issued additional statements regarding the social or economic implications of this measure for the region.\u00a0 Chiquita Panama\u00a0suspended operations when banana workers went on strike in May and June to support protests against social security reforms, which they alleged would affect their profession. Following this decision, the multinational had begun the process of laying off some\u00a06,500\u00a0workers, after accumulating losses of more than\u00a0$75\u00a0million and the fact that\u00a0450,000\u00a0boxes of bananas could not be exported.<\/p>\n
Talks<\/p>\n
At this juncture,\u00a0the MEF minister commented that the\u00a0government\u00a0is doing everything in its power to ensure\u00a0Chiquita Panama\u00a0remains in the country and continues to generate jobs.\u00a0 He noted that the multinational has significant losses and must make short-term investments to recover the plantations lost during the months of protests and the workers\u2019 strike.<\/p>\n
\u201cI have no doubt that this company will grow and return to the country,\u201d\u00a0Chapman\u00a0said.<\/p>\n
So far, the meeting planned between the\u00a0Government\u00a0and\u00a0Chiquita Panama\u00a0\u201chas not yet been finalized,\u201d although\u00a0the President of the Republic, Jos\u00e9 Ra\u00fal Mulino, has announced a meeting for this week.\u00a0 The person in charge of conducting the outreach is\u00a0the Minister of Commerce and Industry, Julio Molt\u00f3,\u00a0who has already stated that this would not be the first meeting they would have.<\/p>\n
\u201cThis week I intend to have another one, trying to convince the company to stay,\u201d\u00a0he stated.<\/p>\n
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