Panama City, Apr 30 :  The government of Panama has established a committee of independent experts to make recommendations on cleaning up the country’s financial system, after leaks of documents from the Panamanian law firm Mossack Fonseca caused an international uproar over offshore accounts. Also Read - Pope defends migrants, marginalised

President Juan Carlos Varela called for the review after the “Panama Papers” leak suggested rich foreigners were using the accounts to hide their wealth. The advisory group includes Nobel economics laureate Joseph Stiglitz, former Panamanian President Nicolas Ardito Barletta and former Panama Canal administrator Alberto Aleman Zubieta. (ALSO READ: Chinese ship set to be first through expanded Panama Canal ) Also Read - Blind amphibian to be named after US President Donald Trump

The group is to present recommendations to Varela in six months. Varela said Friday at the committee’s inauguration that “our administration is committed to bullet-proofing Panama” financial services sector “against threats from people and groups who want to use it for illegal activities.” Also Read - Argentina and China sign deals strengthening ties after G-20