Martesfinanciero.com reviews three episodes which have shocked the Panamanian financial market in recent weeks: "These events have shaken the financial system and put market players on alert. In relation to this the ex superintendent of Banks, Olegario Barrelier said: 'What we have achieved in 45 years has been damaged in a matter of a few days'. Barrelier recalls the achievement of having built "an atmosphere of trust 'in the Panamanian marketplace since 1970."

He is refering to the impact of the declaration of missed deadline for maturity of an issuance of $4 million that was part of the restructuring of bond and securities issued by the financial company La Generosa, which comes on top of the bankruptcy of the companies RG Hotels and Casa de Campo Farallon. All of which occurred amidst headlines regarding the complicated liquidation of Financial Pacific.

"... The Superintendent of Securities, Marelissa Quintero de Stanziola recognizes the potential impact of the three cases and argues that 'they are definitely having effects on the market'. But she warned that a situation of this kind represents 'an opportunity to take measures to strengthen the system and perhaps repeat what we all know in relation to how we ourselves should be the guarantors of our investment.' "

"... The agents of the financial system and the investing public are still unaware of the impact of these cases on the exchange. Neither has its evolution been felt in in transaction rates, and in this sense the superintendent Marelissa Quintero said that the stock market is keeping up its productive rhythm and growth rate. For now, the water continues to run under the bridge. "

Source: martesfinanciero.com

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