I will take note of the hon. member's question, since I don't know whether we received a formal reply from Panama. But I will look into that and let the committee know the answer or the status.
However, within the OECD, we have seen that Panama has started to do what is necessary to move from the grey list to the white list, so to speak. A great deal of progress has been made. Let us remember that Panama signed 11 tax information exchange agreements and it signed an additional tax information exchange agreement. So it entered into 12 international agreements, including a tax information exchange agreement with the United States.
Based on the OECD criteria, Panama has concluded the minimum of 12 agreements in order to be recognized as a country that is taking the right steps to address questions about the movement of money and tax information exchange programs.
So Panama has come a long way. We communicated with the Panamanian government and expressed our intent to also sign a tax information exchange agreement. There are good things happening, but I am going to come back to the letter.