IBOV 177,418.78 ▲ 1.00% IPSA 11,315.26 ▼ 1.14% IPC MEX 65,430.32 ▼ 0.08% MERVAL 3,033,848 ▲ 1.83% COLCAP 2,425.08 ▼ 1.33% BVL PERÚ 59,928.30 ▼ 0.80% USD/BRL5.19▲ 0.04% USD/MXN17.01▲ 0.07% USD/CLP933.85▲ 0.25% USD/COP3,212▲ 0.33% USD/PEN3.36▼ 0.12% USD/ARS1,509▼ 0.28% USD/UYU40.29▲ 0.05% USD/PYG5,892▼ 0.13% USD/BOB11.84▲ 0.51% USD/DOP58.64▲ 0.51% USD/CRC446.47▼ 0.04% USD/GTQ7.62▼ 0.02% USD/HNL26.84— 0.00% USD/NIO36.62▲ 0.14% USD/VES796.33▲ 0.29% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.69▼ 0.37% EUR/BRL6.01▲ 0.06% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73% IBOV 177,418.78 ▲ 1.00% IPSA 11,315.26 ▼ 1.14% IPC MEX 65,430.32 ▼ 0.08% MERVAL 3,033,848 ▲ 1.83% COLCAP 2,425.08 ▼ 1.33% BVL PERÚ 59,928.30 ▼ 0.80% USD/BRL 5.16 ▲ 0.01% USD/MXN 17.06 ▼ 0.24% USD/CLP 913.98 ▲ 0.04% USD/COP 3,140 ▲ 0.03% USD/PEN 3.36 ▼ 0.66% USD/ARS 1,493 ▲ 0.10% USD/UYU 40.27 ▲ 1.24% USD/PYG 5,939 ▲ 1.68% USD/BOB 11.64 ▼ 0.76% USD/DOP 58.34 ▲ 1.25% USD/CRC 445.92 ▲ 0.89% USD/GTQ 7.62 ▲ 2.21% USD/HNL 26.79 ▲ 1.57% USD/NIO 36.62 ▲ 0.69% USD/VES 762.44 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.28 — 0.00% USD/TTD 6.70 ▲ 0.61% EUR/BRL 5.95 ▲ 1.01% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73%
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Tuesday, September 1, 2026

Latin America Central America

Colombia Grants Asylum to Panama’s Ex-President After 16-Month Embassy Refuge

By · May 12, 2025 · 2 min read

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Colombia granted political asylum to former Panamanian President Ricardo Martinelli on May 10, 2025, enabling his departure from Nicaragua’s embassy in Panama City after a 16-month refuge.

The Colombian Foreign Ministry confirmed the decision, coordinating safe passage via diplomatic vehicle to an airport for a flight to Bogotá. Martinelli, 73, faces a 10-year prison sentence in Panama for laundering $19 million through contractors during his 2010 purchase of a publishing conglomerate.

Panama’s Supreme Court upheld the conviction in 2023, barring Martinelli from the 2024 presidential race. His running mate, José Raúl Mulino, replaced him on the ballot and won the election, campaigning on Martinelli’s infrastructure legacy, including Panama City’s metro system.

Nicaragua initially granted Martinelli asylum in February 2024, allowing him to avoid incarceration while living in its embassy with his dog, Bruno.

Colombian President Gustavo Petro framed the asylum as adherence to the 1928 Convention on Asylum and 1933 Convention on Political Asylum, emphasizing Colombia’s “humanitarian tradition.”

Colombia Grants Asylum to Panama’s Ex-President After 16-Month Embassy Refuge
Colombia Grants Asylum to Panama’s Ex-President After 16-Month Embassy Refuge. (Photo Internet reproduction)
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Panama’s government issued a safe-conduct pass, citing treaty obligations despite Martinelli’s conviction. The ex-president announced his arrival in Bogotá on social media, thanking Petro and Nicaraguan leaders Daniel Ortega and Rosario Murillo.

Martinelli’s Asylum in Colombia Sparks Diplomatic Tensions

Martinelli governed Panama from 2009 to 2014, overseeing economic growth fueled by infrastructure projects amid corruption allegations. The U.S. sanctioned him in 2023 for “significant” graft.

His relocation to Colombia avoids immediate imprisonment but leaves unresolved questions about future extradition. Panama has not signaled plans to pursue further legal action.

The case highlights Latin America’s complex interplay of political asylum and judicial accountability, particularly for business-linked leaders.

Martinelli’s asylum underscores regional alliances, with Nicaragua and Colombia positioning themselves as defenders of sovereignty against perceived judicial overreach.

For Panama, the episode tests diplomatic relations while reinforcing the legal system’s independence. Business analysts note the potential impact on investor confidence, given Martinelli’s ongoing influence and Panama’s reliance on international partnerships for canal operations.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error

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