Panamanian banks waiting for financial aid
The Government has still not defined the mechanisms for banks to access the $1.1 billion from the Financial Stimulus Program (PEF).
Friday, January 30, 2009
Edith Castillo in an article on prensa.com writes: "Things are not that simple, there are many operational details that have to be established for the use of these funds and they are only just working on a draft," said a bank source who participated in the meetings in which the Government and banks tried to agree to the terms and conditions of the program."
The terms and conditions of the Financial Stimulus Program for banks to access the $1.11 billion are ready.
The law establishes a trust fund of $1.11 billion to be used by banks to finance productive investment.
Banks participating in the program won't benefit from lower rates nor more flexible conditions than those provided by their correspondent banks.
The Panama Bank Association (ABP) recommended that the Government start, as soon as possible, a program to reactivate the economy via the banks.
- Daily Update
- Government Purchases
- Classified Ads
- Indexes & Statistics
- Press Releases
- Events Calendar