Panama Leaks: Could Argentine President Macri be the next to step down?

    Panama Leaks: Could Argentine President Macri be the next to step down?

    April 8, Buenos Aries: The Argentine President Mauricio Macri may have to face the same fate as the Iceland Prime Minister
    Iceland Prime Minister Sigmundur David Gunnlaugsson who was forced to quit office after the Panama leaks.

     Though the Argentine president Macri has said that has nothing to hide after revelations in the Panama Papers that he had links with an offshore company, a federal prosecutor has called for an investigation into Macri's involvement on Thursday. Macri who will be appearing in court on Friday, has said that he is not legally obliged to declare his connection with the named offshore company as he never had a stake in it. "I am simply director of the Bahamas-based company, Fleg Trading Ltd., now closed, which was created by my father to make investments in Brazil, " he said before adding, "I have acted in accordance with the law and have nothing to hide," Macri said in a televised news conference.

    "I did not receive any payment for acting as a director [of offshore companies]. Tomorrow [Friday] I will present myself before the court with all information necessary for the judge to verify that what I have done is correct. I am calm. I have obeyed the law. I have nothing to hide."

    Meanwhile,according to critics, the president owes a more thorough explanation for his alleged connection with another offshore company, Kagemusha SA, registered in Panama, given that such firms are often used to launder money and evade taxes.

    Meanwhile, British Prime Minister David Cameron has  admitted that he benefitted from the offshore investment fund set up by his late father, after days of pressure following the publication of the Panama Papers.

    The Oslo Times


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