Panama has decided to step away from a major global project led by China. The country’s president, José Raúl Mulino, announced that it will not renew its deal with China’s Belt and Road Initiative (BRI).

Panamanian President Jose Raul Mulino, after talks with US Secretary of State Marco Rubio, said that the country's government would not extend the memorandum of understanding with China on the "One Belt— One Road" initiative.

Panama has decided not to renew its participation in China’s Belt and Road Initiative (BRI), making it the first Latin American nation to leave the programme. President José Raúl Mulino stated that his administration would assess whether an early termination is possible.