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Panama cancels Odebrecht contract over bribes

Monday, January 2, 2017

Panama said it will cancel a contract given to Brazil's Odebrecht and will not allow the company to participate in public bids, shortly after Odebrecht admitted to bribing officials in Panama and other countries to obtain government contracts.

Odebrecht doled out more than $59 million in bribes to officials and intermediaries in Panama between about 2010 and 2014, according to a plea agreement last week in a United States court.

Source: Reuters