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| Panama Papers: Government announces creation of 'panel of experts' | Panama Papers: Government announces creation of 'panel of experts' |
| (35 minutes later) | |
| Panama is creating an international panel to help improve transparency in its offshore financial industry. | Panama is creating an international panel to help improve transparency in its offshore financial industry. |
| The move follows the leak of millions of documents from law firm Mossack Fonseca, showing it helped some clients evade tax and avoid sanctions. | The move follows the leak of millions of documents from law firm Mossack Fonseca, showing it helped some clients evade tax and avoid sanctions. |
| Several countries are probing possible financial crimes by the rich and powerful in the aftermath of the leak. | Several countries are probing possible financial crimes by the rich and powerful in the aftermath of the leak. |
| President Juan Carlos Varela said Panama would work with other countries over the revelations. | President Juan Carlos Varela said Panama would work with other countries over the revelations. |
| "The Panamanian government, via our foreign ministry, will create an independent commission of domestic and international experts," he said in a televised address. | "The Panamanian government, via our foreign ministry, will create an independent commission of domestic and international experts," he said in a televised address. |
| The panel, he said, would examine working practices and propose measures that could be shared to strengthen the transparency of the financial and legal systems. | The panel, he said, would examine working practices and propose measures that could be shared to strengthen the transparency of the financial and legal systems. |
| Correspondents say the president is eager to defend his country against a "media attack" by wealthy countries that he says are unfairly stigmatising him following the leak. | Correspondents say the president is eager to defend his country against a "media attack" by wealthy countries that he says are unfairly stigmatising him following the leak. |
| Mossack Fonseca, for its part, says that it has been the victim of a hack. | Mossack Fonseca, for its part, says that it has been the victim of a hack. |
| Mossack Fonseca partner Ramon Fonseca insisted the leak was not an "inside job" - the company had been hacked by servers based abroad. | Mossack Fonseca partner Ramon Fonseca insisted the leak was not an "inside job" - the company had been hacked by servers based abroad. |
| It has now filed a complaint with the Panamanian attorney general's office. | It has now filed a complaint with the Panamanian attorney general's office. |
| Mossack Fonseca has accused media organisations reporting the leak of having "unauthorised access to proprietary documents and information taken from our company" and of presenting this information out of context. | Mossack Fonseca has accused media organisations reporting the leak of having "unauthorised access to proprietary documents and information taken from our company" and of presenting this information out of context. |
| The revelations have already sparked political reaction in several countries where high-profile figures have been implicated. | The revelations have already sparked political reaction in several countries where high-profile figures have been implicated. |
| On Tuesday Iceland's Prime Minister Sigmundur Gunnlaugsson stepped down after the documents showed he owned an offshore company with his wife but had not declared it when he entered parliament. | On Tuesday Iceland's Prime Minister Sigmundur Gunnlaugsson stepped down after the documents showed he owned an offshore company with his wife but had not declared it when he entered parliament. |
| The ruling coalition has named Sigurdur Ingi Johannsson as the new prime minister, with early elections to be held in the autumn. | |
| Mr Gunnlaugsson says he sold his shares to his wife and denies any wrongdoing. | |
| More on the Panama Papers | More on the Panama Papers |
| Panama Papers - tax havens of the rich and powerful exposed | Panama Papers - tax havens of the rich and powerful exposed |
| Are you in Panama? What is your reaction to the Panama Papers scandal? Send us your views and reaction. Email haveyoursay@bbc.co.uk. | Are you in Panama? What is your reaction to the Panama Papers scandal? Send us your views and reaction. Email haveyoursay@bbc.co.uk. |
| Please include a contact number if you are willing to speak to a BBC journalist. You can also contact us in the following ways: | Please include a contact number if you are willing to speak to a BBC journalist. You can also contact us in the following ways: |
| Or use the form below | Or use the form below |