Panamanian banks very liquid
83% of their resources are internal deposits, thereby creating a shield against the international crisis.
Friday, September 19, 2008
While the banking system in Panama is not 100% immune from the international liquidity crisis, it does have important advantages that help to minimize the impact, declared Ernesto Bazan, general manager of the Equilibrium Risk Agency.
The volume of total deposits accounted for 50% of GDP and becomes mostly government debt.
Banking liquidity in cordobas increased from 32% in 2008 to 48% in 2009, and in U.S. dollars it raised from 30.4% to 41%.
The banking sector requested that the term for the temporary measure of providing liquidity in US dollars via repo transactions be extended.
The funds will be used to deal with the possible lack of liquidity next year due to the international financial crisis.
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