Panama Public Debt Increases
The Panamanian public debt has hit 10.88 billion dollars, an increase of 1.7 billion in relation to September 2004, when Martin Torrijos became president.

An Economy and Finance Ministry report informed the debt has increased 148 million dollars since October.

Panama owes 815.1 million dollars to Treasury bond holders and 429.8 million to bill holders, 10 million and 12.6 million more than in November, respectively, the release revealed.

The text specified that global bond holders, the Inter-American Development Bank, and the official bank are the Panamanian State s main creditors.

The decision by the Panamanian government to privatize state assets to theoretically reduce the national debt has provoked protests from numerous experts.

The issue emerged after publication of a letter from Economy and Finance Minister Carlos Vallarino to World Bank President Paul Wolfowitz telling him the State has assets that could help reduce the debt.