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Economists Nix Panama
Privatization
Plans to privatize Panamanian
state assets to reduce the 10.5
billion dollar national debt
were greeted with strong
criticism by the nationós
economists and media Tuesday.
The plans came to light when a
letter from Economy Minister
Carlos Vallarino to the World
Bank president, offering to sell
state assets to reduce the debt,
was divulged.
According to official sources
cited by Panama-America daily, a
privatization proposal will be
submitted for the Arraijan-La
Chorrera Expressway that
contributes over four million
dollars in tolls annually.
Education and health sectors
will come next, averred the
morning edition.
Economy Prof. Rene De Gracia
questioned such secret
negotiations and said the easy
way sought by this neoliberal
administration would lead to
irresponsibly increasing the
foreign debt.
Economist Rolando Gordon pointed
out that the law does not allow
money obtained through
privatization of state stocks to
be used to pay the debt and the
Fiduciary Development Fund
should be involved.
Similarly, analyst Julio Yao
considered this type of
negotiation is irresponsible as
Panamanians risk losing their
resources.
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