In the news today regarding the famous canal – but what about Panama and marijuana?
Panama is the only place in the world where the sun rises in the Pacific Ocean and sets in the Atlantic Ocean. It is slightly smaller than South Carolina but has more bird species than the continental United States. It’s also home to many natural attractions, including whitewater rafting, snorkeling, and birding. Long a friend, it was the first Latin American country to use the US dollar as its currency. Now it is the news with the new administration. Considering the talk here, what about Panama and cannabis?
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The economy of Panama is based mainly on the tourism and services sector, which accounts for nearly 80% of its GDP and accounts for most of its foreign income. Services include banking, commerce, insurance, container ports, and flagship registry, medical and health. Enjoy a significant number of travelers who enjoy adventure, outdoor activities and chilling, the country’s stance on marijuana is evolving.
Panama has made significant strides in the realm of cannabis, particularly regarding its medical use. In 2021, Panama became the first Central American nation to legalize medical cannabis when
President Laurentino Cortizo signed Law 242, allowing for the medicinal and therapeutic use of cannabis and its derivatives. This law was a response to growing demands from patients suffering from various medical conditions, including epilepsy and chronic pain, who had previously resorted to smuggling cannabis products due to a lack of legal options
In September 2022, the Panamanian government established regulations to support the implementation of
Law 242. These regulations created a National Directorate for the Monitoring of Activities Related to Medical Cannabis, which operates under the Ministry of Public Security. This body is responsible for overseeing the cultivation, production, and distribution of medical cannabis products, ensuring patient data protection and product traceability from cultivation to sale
. The Ministry of Health (MOH) is tasked with issuing licenses for manufacturing and commercializing cannabis products, with an initial cap on manufacturing licenses set at seven for the first five years. Regulations aim to ensure that all medical cannabis produced in Panama adheres to strict quality standards.
The government envisions creating a robust local industry that not only meets domestic needs but also positions Panama as a potential hub for international medical cannabis trade. While they are making advancements in medical cannabis regulation, recreational use remains illegal in Panama. The law against recreational cannabis is often unenforced, leading to a culture where its use is tolerated among the youth. Both the public and tourist find it an easy atmosphere.
Panama has one of the fastest growing economies in Latin America and has as stable government. Like the United States, it is a republic and engages the public. They have evaluated cannabis as a benefits and have moved to integrating into their healthcare.
