Panama Forges $1.1bn Stimulus

Panama Forges $1.1bn Stimulus

Panama

Panama president Martin Torrijos has announced that in light of the global financial crisis, the government will create a $1.1bn financial stimulus program to provide credit to local banks and financial entities so they can extend credit to their clients. The program’s funds, to be managed by the National Bank of Panama, will come from CAF, the IDB and the bank itself. Torrijos explains that this is “not a subsidy program or a financial rescue” but instead a “preventive measure” that will “not i

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