Panama withdraws from the Chinese Belt and Road Initiative

On Thursday, President Jose Raul Mulino announced his country’s withdrawal from the Chinese “Belt and Road” initiative, in a move that comes a few days after receiving US Secretary of State Marco Rubio, whose country is seeking to reduce Beijing’s influence on Panama.
And Molino, who had previously announced that he would not renew the memorandum of understanding signed with China, said during a press conference Thursday that the Panama embassy in Beijing “presented the document” that includes “the announcement of the exit from the agreement within the 90 -day period” stipulated in the agreement signed between the two parties.