Panama Sets
Up New Council to Manage $1.11 Billion Economic Stimulus Package
Panama - Panama set up a new council
Tuesday for carrying out the government's financial crisis
management program, local media reported.
The Directive Council of the Financial Stimulus Program, which will
be temporary and whose extension will depend on the country's
economic circumstances, will manage the government's incentive
package of 1.11 billion U.S. dollars designed to lighten the impact
of the global crisis.
The measure aims to maintain economic stability, employment growth
and commercial activity achieved in the country in the past years,
said Erich Rodriguez Auerbach, Secretary of State Communications.
"Its main aim will be to take on-time public policies to prevent or
counteract the impacts posed by the global financial crisis,"
Rodriguez stressed.
He said the program will support the economic agents or clients of
banks who need funds to overcome economic difficulties, mainly those
who are finding it difficult to get credit.
Panama has about 90 registered banks from all over the world and is
considered to have one of the most solid financial systems in the
region.
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