Panama won't increase its IDB debt

A spokesman for the International Development Bank (IDB), Marcelo Antinori, says Panama is unlikely to accept a 500-million-dollar line of credit.

Wednesday, June 11, 2008

The IDB is offering this line of credit to Latin American countries to mitigate the social and economic effects of the food crisis.
Antinori says that Panama is "perfectly eligible" for it, but government strategy is to reduce debt levels.
"In addition," he said, "the processing of these loans takes several months and there's barely a year left before the presidential elections."

More on this topic

Aid offered in food crisis

May 2008

The Inter-American Development Bank on Tuesday announced a $500 million line of credit for Central America in hopes of heading off food-price unrest.

Trying to get ahead of potential unrest because of rising food and energy prices, the Inter-American Development Bank on Tuesday announced a new $500 million line of credit for six Central American nations and the Dominican Republic.

World Bank: 500 million dollars available for El Salvador

June 2008

The World Bank is offering a 500 million dollar loan package to the El Salvadorean government and to the opposition, with low interest rates and an extended repayment period.

It said that now is the time to restructure debt and that this will be necessary for the next government, no matter which party forms it.

$48.6 million for Honduras road network

October 2008

World Bank vice president for Latin America, Pamela Cox, and the Honduran Minister of Finance , Rebeca Santos, signed two credit agreements for a total of $58.6 million.

According to Rebeca Santos, the first loan for $10 million is in line with the Bank's strategy of supporting international efforts to overcome the world food crisis.

IDB Freezes Loans to Honduras

July 2009

The IDB has “detained” all credit activity with Honduras until the political situation in the country is resolved.

The IDB currently has a “very active” portfolio of about $200 million for Honduras, reported Luis Alberto Moreno, president of the Inter-American Development Bank (IDB).

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