World Bank approved $100 Million for Panama
The loan aims to enhance private sector competitiveness, consolidate fiscal discipline and increase public sector accountability.
Wednesday, December 17, 2008
The Second Competitiveness and Public Financial Management Development Policy Loan (DPL) is the result of close coordination with Panamanian officials and is the second of the program’s two loans specified in the Country Partnership Strategy 2008-2010 that supports specific components of the government’s program.
In the wake of Panama’s upgrade to investment grade, experts are already calling to maintain the efforts that led to such achievement.
"Net contributors are providing less and less taxes in relation to the services they receive, while net receivers are demanding more and more benefits compared to what they provide."
"The defense and strengthening of the rule of law requires, as a starting point, enabling sound public finances. The rest is verbal pyrotechnics." Otton Solis.
A report from the Central Institute for Fiscal Studies said that mining activities in Guatemala are "far from presenting satisfactory levels of transparency."
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