For every coin of 25 cents made by the Royal Mint of Canada, the Panamanian government paid 19 cents.
Data collected from documents published on PanamaCompra by Prensa.com shows that "... This year, the MEF signed with the Canadian company a contract for the manufacture of 12 million coins in denomintions of 25 cents with a value of 2 million 280 thousand US dollars. "
The mintage is scheduled to take place between 2016 and 2019, in denominations of 1 cent, 5 cents, 10 cents, 25 cents, 50 cents and 1 balboa.
From a statement issued by the Ministry of Economy and Finance in Panama:
In order to meet the needs of the National Bank of Panama (BNP) and of the entire commercial sector of the country for the availability of coins for daily productive activities and to raise funds for the National Treasury, the Minister of Economy and Finance Dulcidio De La Guardia, introduced a bill to the National Assembly that authorizes the minting and issuance of current circulation coins in different denominations, with a nominal value of up to 37.2 million dollars.
The Central Bank of Honduras is putting out to tender minting of 500 million pieces of coins of different denominations.
The Central Bank of Honduras requires minting and supply of five hundred million (500,000,000) pieces of coins of different bank denominations, to distributed as follows: two hundred million (200,000,000) in the denomination five cents (L0.05) one hundred fifty million (150,000,000) in the denomination of ten cents (L0.10), one hundred ten million (110,000,000) in the denomination of twenty cents (L0.20) and forty million (40,000,000) in the denomination of fifty cents (L0.50).
Panama minted coins of one and two Balboas for circulation at par with the Dollar.
José Ramón Fernández, director of the Ministry of Economy and Finance, noted that the measure does not imply any changes in the Dollarized economy of the country. The coins will be used without any restrictions and with the same nominal value of the U.S. Dollar.
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