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Panama Debt Exceeds $10.5 Billion
Panama - The Panamanian public debt
reached $10.578 billion in March, $141
million more than at the end of last year,
official sources informed Saturday.
According to reports of the Ministry of
Economy and Finances, $8.778 billion of this
amount correspond to the external debit,
with a significant part due to emissions of
funds.
The debt to public creditors reaches $2.768
billion, with the remaining $7.810 billion
owed to private ones.
Regarding the year 2004, the mentioned rate
shows an increase of $1.375 billion (14.9
percent).
The studies also showed that the increase in
emissions of titles was carried out by
authorities to cover the deficit they
inherited from the previous government.
Nevertheless, when analyzing the debt in
relation to what it represents in relation
to the Gross Domestic Product (GDP), it went
down from 70.2 percent at the beginning of
Martin Torrijos's government to 45 percent
at the present time. |
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