Magnitude 7.7 Earthquake Strikes Panama, Destroying Buildings; Tsunami Alerts Issued for Neighboring Countries

[Financial News]  A powerful magnitude 7.7 earthquake struck south-central Panama, damaging numerous buildings and triggering a wave of emergency evacuations.
According to foreign media outlets, including the BBC, the earthquake struck shortly before 3 p.m. local time on the 9th. Its epicenter was about 10 km from the village of Pitalosa Arriba in south-central Panama, and the focus was estimated to be 12 km deep. The shallower the focus, the greater the impact and damage at the surface. An estimated 4.6 million residents felt shaking of moderate intensity or stronger from this earthquake.
Verified videos posted on social media showed collapsed buildings in the areas of Penonomé and Soná. One side wall and the spire of a cathedral in Penonomé had collapsed, while another video showed a local hotel building that was almost completely destroyed. Footage also showed people calling out to check whether anyone was trapped beneath the rubble. 
Mass evacuations also continued in the capital, Panama City, about 200 km from the epicenter. Crowds rushed out of several public institutions, including an obstetrics and gynecology hospital, as well as other buildings in the city, and took shelter in the streets or nearby parks. Damage in the metropolitan area appeared to be largely limited to damage caused by debris falling from roofs. No casualties have been officially reported so far.
Panamanian President José Raúl Mulino said he had immediately activated a government-wide response system and urged that “this incident must not be allowed to foment social unrest or fear.”
Tsunami alerts were briefly issued for 11 countries near Panama immediately after the earthquake, but the U.S. Tsunami Warning System lifted them after determining that there was no tsunami threat. The Panama Canal Authority also officially announced that the earthquake had not affected operations or facilities at the Panama Canal, a key logistics hub linking the Pacific and Atlantic oceans.
The earthquake struck just three days before the Panamanian government’s national evacuation drill for major earthquakes. Strong aftershocks have continued since the main shock, so it is expected to take some time to accurately assess the damage and carry out recovery work.
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