Panama eyes using the euro as a second currency

The general manager of the National Bank of Panama, Juan Dianous, said he was interested in the possibility of using the euro as a second currency in Panama.

Monday, June 23, 2008

At present there are numerous commercial businesses, hotels and restaurants that accept euros, and several financial institutions carry out operations and open accounts in euros.
Experts say that the dollar devaluation has diminished the purchasing power of Panamaneans, and that it would be feasible to create a financial center where customers could set up their own charge accounts in euros.

More on this topic

Risk of Devaluation in Costa Rica?

December 2013

Credit growth in dollars is causing concern about possible risks of devaluation and a rise in interest rates.

Nacion.com reports that: "Guillermo Quesada, President of the Chamber for Banking and Financial Institutions said that banks have been proactive and have already taken steps to address the risks."

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