Keep Us Strong WikiLeaks logo

Currently released so far... 97115 / 251,287

Articles

Browse latest releases

Browse by creation date

Browse by origin

A B C D F G H I J K L M N O P Q R S T U V W Y Z

Browse by tag

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
ETRD EAGR ETTC EAID ECON EFIN ECIN EINV ELAB EAIR ENRG EPET EWWT ECPS EIND EMIN ELTN EC ETMIN EUC EZ ET ELECTIONS ENVR EU EUN EG EINT ER ECONOMICS ES EMS ENIV EEB EN ECE ECOSOC EK ENVIRONMENT EFIS EI EWT ENGRD ECPSN EXIM EIAD ERIN ECPC EDEV ENGY ECTRD EPA ESTH ECCT EINVECON ENGR ERTD EUR EAP EWWC ELTD EL EXIMOPIC EXTERNAL ETRDEC ESCAP ECO EGAD ELNT ECONOMIC ENV ETRN EIAR EUMEM ENRGPARMOTRASENVKGHGPGOVECONTSPLEAID EREL ECOM ECONETRDEAGRJA ETCC ETRG ECONOMY EMED ETR ENERG EITC EFINOECD EURM EENG ERA EXPORT ENRD ECONEINVETRDEFINELABETRDKTDBPGOVOPIC EGEN EBRD EVIN ETRAD ECOWAS EFTA ECONETRDBESPAR EGOVSY EPIN EID ECONENRG EDRC ESENV ETT EB ENER ELTNSNAR ECHEVARRIA ETRC EPIT EDUC ESA EFI ENRGY ESCI EE EAIDXMXAXBXFFR EETC ECIP EIAID EIVN EBEXP ESTN EING EGOV ETRA EPETEIND ELAN ETRDGK EAIDRW ETRDEINVECINPGOVCS EPEC ENVI ELN EAG EPCS EPRT EPTED ETRB EUM EAIDS EFIC EFINECONEAIDUNGAGM EAIDAR ESF EIDN ELAM EDU EV EAIDAF ECN EDA EXBS EINTECPS ENRGTRGYETRDBEXPBTIOSZ EPREL EAC EINVEFIN ETA EAGER EINDIR ECA ECLAC ELAP EITI EUCOM ECONEFINETRDPGOVEAGRPTERKTFNKCRMEAID EARG ELDIN EINVKSCA ENNP EFINECONCS EFINTS ECCP ETC EAIRASECCASCID EINN ETRP EAIDNI EFQ ECOQKPKO EGPHUM EBUD ECONEINVEFINPGOVIZ ENERGY ELB EINDETRD EMI ECONEFIN EIB EURN ETRDEINVTINTCS EIN EFIM ETIO ELAINE EMN EATO EWTR EIPR EINVETC ETTD ETDR EIQ ECONCS EPPD ENRGIZ EISL ESPINOSA ELEC EAIG ESLCO EUREM ENTG ERD EINVECONSENVCSJA EEPET EUNCH ECINECONCS ETRO ETRDECONWTOCS ECUN EFND EPECO EAIRECONRP ERGR ETRDPGOV ECPN ENRGMO EPWR EET EAIS EAGRE EDUARDO EAGRRP EAIDPHUMPRELUG EICN ECONQH EVN EGHG ELBR EINF EAIDHO EENV ETEX ERNG ED
KMDR KPAO KPKO KJUS KCRM KGHG KFRD KWMN KDEM KTFN KHIV KGIC KIDE KSCA KNNP KHUM KIPR KSUM KISL KIRF KCOR KRCM KPAL KWBG KN KS KOMC KSEP KFLU KPWR KTIA KSEO KMPI KHLS KICC KSTH KMCA KVPR KPRM KE KU KZ KFLO KSAF KTIP KTEX KBCT KOCI KOLY KOR KAWC KACT KUNR KTDB KSTC KLIG KSKN KNN KCFE KCIP KGHA KHDP KPOW KUNC KDRL KV KPREL KCRS KPOL KRVC KRIM KGIT KWIR KT KIRC KOMO KRFD KUWAIT KG KFIN KSCI KTFIN KFTN KGOV KPRV KSAC KGIV KCRIM KPIR KSOC KBIO KW KGLB KMWN KPO KFSC KSEAO KSTCPL KSI KPRP KREC KFPC KUNH KCSA KMRS KNDP KR KICCPUR KPPAO KCSY KTBT KCIS KNEP KFRDCVISCMGTCASCKOCIASECPHUMSMIGEG KNNB KGCC KINR KPOP KMFO KENV KNAR KVIR KDRG KDMR KFCE KNAO KDEN KGCN KICA KIMMITT KMCC KLFU KMSG KSEC KUM KCUL KMNP KSMT KCOM KOMCSG KSPR KPMI KRAD KIND KCRP KAUST KWAWC KTER KCHG KRDP KPAS KITA KTSC KPAOPREL KWGB KIRP KJUST KMIG KLAB KTFR KSEI KSTT KAPO KSTS KLSO KWNN KPOA KHSA KNPP KPAONZ KBTS KWWW KY KJRE KPAOKMDRKE KCRCM KSCS KWMNCI KESO KWUN KPLS KIIP KEDEM KPAOY KRIF KGICKS KREF KTRD KFRDSOCIRO KTAO KJU KWMNPHUMPRELKPAOZW KEN KO KNEI KEMR KKIV KEAI KWAC KRCIM KWCI KFIU KWIC KCORR KOMS KNNO KPAI KBWG KTTB KTBD KTIALG KILS KFEM KTDM KESS KNUC KPA KOMCCO KCEM KRCS KWBGSY KNPPIS KNNPMNUC KWN KERG KLTN KALM KCCP KSUMPHUM KREL KGH KLIP KTLA KAWK KWMM KVRP KVRC KAID KSLG KDEMK KX KIF KNPR KCFC KFTFN KTFM KPDD KCERS KMOC KDEMAF KMEPI KEMS KDRM KEPREL KBTR KEDU KNP KIRL KNNR KMPT KISLPINR KTPN KA KJUSTH KPIN KDEV KTDD KAKA KFRP KWNM KTSD KINL KJUSKUNR KWWMN KECF KWBC KPRO KVBL KOM KFRDKIRFCVISCMGTKOCIASECPHUMSMIGEG KEDM KFLD KLPM KRGY KNNF KICR KIFR KM KWMNCS KAWS KLAP KPAK KDDG KCGC KID KNSD KMPF KPFO KDP KCMR KRMS KNPT KNNNP KTIAPARM KDTB KNUP KPGOV KNAP KNNC KUK KSRE KREISLER KIVP KQ KTIAEUN KPALAOIS KRM KISLAO KWM KFLOA
PHUM PINR PTER PGOV PREL PREF PL PM PHSA PE PARM PINS PK PUNE PO PALESTINIAN PU PBTS PROP PTBS POL POLI PA PGOVZI POLMIL POLITICAL PARTIES POLM PD POLITICS POLICY PAS PMIL PINT PNAT PV PKO PPOL PERSONS PING PBIO PH PETR PARMS PRES PCON PETERS PRELBR PT PLAB PP PAK PDEM PKPA PSOCI PF PLO PTERM PJUS PSOE PELOSI PROPERTY PGOVPREL PARP PRL PNIR PHUMKPAL PG PREZ PGIC PBOV PAO PKK PROV PHSAK PHUMPREL PROTECTION PGOVBL PSI PRELPK PGOVENRG PUM PRELKPKO PATTY PSOC PRIVATIZATION PRELSP PGOVEAIDUKNOSWGMHUCANLLHFRSPITNZ PMIG PREC PAIGH PROG PSHA PARK PETER POG PHUS PPREL PS PTERPREL PRELPGOV POV PKPO PGOVECON POUS PGOVPRELPHUMPREFSMIGELABEAIDKCRMKWMN PWBG PMAR PREM PAR PNR PRELPGOVEAIDECONEINVBEXPSCULOIIPBTIO PARMIR PGOVGM PHUH PARTM PN PRE PTE PY POLUN PPEL PDOV PGOVSOCI PIRF PGOVPM PBST PRELEVU PGOR PBTSRU PRM PRELKPAOIZ PGVO PERL PGOC PAGR PMIN PHUMR PVIP PPD PGV PRAM PINL PKPAL PTERE PGOF PINO PHAS PODC PRHUM PHUMA PREO PPA PEPFAR PGO PRGOV PAC PRESL PORG PKFK PEPR PRELP PREFA PNG PGOVPHUMKPAO PRELECON PINOCHET PFOR PGOVLO PHUMBA PRELC PREK PHUME PHJM POLINT PGOVPZ PGOVKCRM PGOVE PHALANAGE PARTY PECON PEACE PROCESS PLN PRELSW PAHO PEDRO PRELA PASS PPAO PGPV PNUM PCUL PGGV PSA PGOVSMIGKCRMKWMNPHUMCVISKFRDCA PGIV PRFE POGOV PEL PBT PAMQ PINF PSEPC POSTS PHUMPGOV PVOV PHSAPREL PROLIFERATION PENA PRELTBIOBA PIN PRELL PGOVPTER PHAM PHYTRP PTEL PTERPGOV PHARM PROTESTS PRELAF PKBL PRELKPAO PKNP PARMP PHUML PFOV PERM PUOS PRELGOV PHUMPTER PARAGRAPH PERURENA PBTSEWWT PCI PETROL PINSO PINSCE PQL PEREZ PBS

Browse by classification

Community resources

courage is contagious

Viewing cable 06PANAMA1532, TORRIJOS PICKS EX-CHASE MANHATTAN GM AS NEW BANK

If you are new to these pages, please read an introduction on the structure of a cable as well as how to discuss them with others. See also the FAQs

Understanding cables
Every cable message consists of three parts:
  • The top box shows each cables unique reference number, when and by whom it originally was sent, and what its initial classification was.
  • The middle box contains the header information that is associated with the cable. It includes information about the receiver(s) as well as a general subject.
  • The bottom box presents the body of the cable. The opening can contain a more specific subject, references to other cables (browse by origin to find them) or additional comment. This is followed by the main contents of the cable: a summary, a collection of specific topics and a comment section.
To understand the justification used for the classification of each cable, please use this WikiSource article as reference.

Discussing cables
If you find meaningful or important information in a cable, please link directly to its unique reference number. Linking to a specific paragraph in the body of a cable is also possible by copying the appropriate link (to be found at theparagraph symbol). Please mark messages for social networking services like Twitter with the hash tags #cablegate and a hash containing the reference ID e.g. #06PANAMA1532.
Reference ID Created Released Classification Origin
06PANAMA1532 2006-08-08 16:30 2011-05-31 00:00 CONFIDENTIAL Embassy Panama
VZCZCXYZ0001
PP RUEHWEB

DE RUEHZP #1532/01 2201630
ZNY CCCCC ZZH
P 081630Z AUG 06
FM AMEMBASSY PANAMA
TO RUEHC/SECSTATE WASHDC PRIORITY 8695
INFO RUEHZA/WHA CENTRAL AMERICAN COLLECTIVE PRIORITY
RUEHBO/AMEMBASSY BOGOTA PRIORITY 2384
RUEAIIA/CIA WASHDC PRIORITY
RUCPDOC/DEPT OF COMMERCE WASHDC PRIORITY
RUEATRS/DEPT OF TREASURY WASH DC PRIORITY
RHEHNSC/NSC WASHDC PRIORITY
C O N F I D E N T I A L PANAMA 001532

SIPDIS

SIPDIS

E.O. 12958: DECL: 08/08/2016
TAGS: EFIN ECON PGOV SNAR PM
SUBJECT: TORRIJOS PICKS EX-CHASE MANHATTAN GM AS NEW BANK
SUPERINTENDENT; STILL TAKES HEAT FOR UNTIMELY CHANGE

REF: PANAMA 1477 AND PREVIOUS

Classified By: DCM Luis Arreaga - Reasons 1.5 (b and d)

 1.  (C) Summary.  On August 7, President Torrijos appointed
Olegario "Gary" Barrelier as Panama's new Bank
Superintendent.  Barrelier is a well-respected, albeit
elderly, banker.  He replaces Delia Cardenas, whom Torrijos
had forced to resign two years before her second (and final)
term was due to expire (reftel).  Widely voiced concerns
about the Superintendency's independence (triggered by the
Ambassador's July 28 comments), apparently thwarted designs
that Torrijos may have had to name a political loyalist to
the job.  Despite their praise for Barrelier, business
leaders and political opponents harshly criticized Torrijos'
ouster of Cardenas.  Post will watch closely to see whether
Barrelier follows Cardenas' model of independence and/or
whether he ends up being only a temporary placeholder.  End
summary.

Barrelier: The "Best Pick Possible" or an Old Re-Tread?
--------------------------------------------- ----------

2.  (C) Cardenas' deputy, Amauri Castillo, told Econ Chief
Aug. 7 that Torrijos' pick of Barrelier came as a relief to
Cardenas and other Superintendency staff.  They had feared
Torrijos would choose a PRD loyalist or some other politico
that would weaken the institution's independence.  Castillo
said that Torrijos likely avoided a more "political" nominee
as a result of widespread concerns triggered by the
Ambassador's July 28 comments about Cardenas' solid
reputation and the importance of independent regulators.
(Note: In the week following the Ambassador's widely
publicized comments, a number of banking and business leaders
voiced similar concerns, as did various political opponents,
including former President Guillermo Endara, who said that
forcing Cardenas' resignation was "Torrijos' worst error"
since taking office.  End note.)

3.  (C) Banco General patriarch Federico Humbert told Econ
Chief Aug. 7 that Barrelier is an "excellent, honorable
person" and that he was the "best pick possible" among the
various names that had surfaced in recent press speculation.
Former Comptroller General and a former Chase Manhattan
executive, Ruben "Chinchorro" Carles, offered similar praise
for Barrelier in a conversation with Pol Assistant, adding
that the Ambassador had done the right thing in making it
difficult for Torrijos to put a political crony in the job.
Conversely, local ScotiaBank chief Terry McCoy complained to
the DCM on Aug. 7 that Torrijos' pick of Barrelier is merely
aggravates his bad move to dump Cardenas, given Barrelier's
age (70-something) and the fact that he's been largely out of
the banking industry for several years.

Cardenas Contradicts Torrijos; Endara Calls Him a "Liar"
--------------------------------------------- -----------

4.  (SBU) In confirming her resignation publicly on Aug. 7,
Cardenas said that she was pleased to be replaced by
Barrelier, as he is "very honest and knows the banking
sector."  But she also maintained her independence to the
end, as she also contradicted Torrijos' earlier claim that he
was merely accepting her "voluntary" resignation because she
wanted to return to the private sector.  She made clear that
her resignation came under duress and that Torrijos had
approached her last May to seek her resignation ostensibly
because he wanted to "reorganize" supervision of Panama's
financial sector.  This prompted Endara to call Torrijos a
"first class liar" who should be "ashamed" for his ouster of
Cardenas.  Several business leaders leavened their praise for
Barrelier with continued criticism of Torrijos' effort to
push Cardenas aside.

Comment: Torrijos Salvages Cardenas' Untimely Ouster
--------------------------------------------- -------

5.  (C) Apparently thwarted from naming a political loyalist
to the job, Torrijos at least named a well-regarded, albeit
elderly, technocrat to oversee the region's most significant
banking center.  We nonetheless remain troubled by the fact
that he pushed out Cardenas for little apparent cause, as
well as the move's poor timing (i.e., just as the Rayo
Montano drug case might implicate powerful banking
interests).  Cardenas' independence and even-handed bank
supervision was key to getting Panama removed from various
"blacklists" as a fiscal paradise.  Post will watch closely
to see whether Barrelier follows her model of robust
oversight and/or whether, given his age, he ends up being
only a temporary placeholder.  End comment.

Bio Sketch - Olegario "Gary" Barrelier Chiari
---------------------------------------------

6.  (U)  Gary Barrelier is believed to be in his mid-70s.  A
Texas A&M grad in Agricultural Engineering, Barrelier also
earned a Master's in Irrigation Engineering.  In April 2001,
the Bank Superintendent chose Barrelier to oversee the
intervention and liquidation of Banco Disa, S.A.  He
previously served as General Manager of Chase Manhattan Bank
in Panama (1989-2000), as President of the Private Sector
Council for Educational Assistance (1999-2000), Advisor for
the National Policy Against Money Laundering (1996-98), and
Advisor to the National Security Council for the Creation of
the Financial Analysis Unit (1996).  He served during the
1990s on the Presidential Commission for the drafting of
Panama's new Banking Law and as a Principal Member of
National Banking Commission and the National Housing
Commission.  He has also held prior executive positions in
banking and paper manufacturing.  As President of the
Panamanian Banking Association (1994) and officer with the
Panama-U.S. Business Council (1993), Barr
elier was a regular at Embassy functions.
EATON