Interest Rates on the Rise
La Prensa
Due to the global recession and the banking industry meltdown in the United States, the Panamanian banking system has had to exercise greater caution in lending money. This has had a direct impact on interest rates, which have started moving higher in some areas. According to the benchmark rates that are recorded by the Superintendency of Banks, consumers benefited from a slight decline in credit card interest rates in the first half of the year, but in July these rates began to rise. Similar trends were recorded for personal loans and auto loans. The latter are currently ......
Economy
No plans in the works to sell shares in utilitiesThe government has no plans to sell shares it owns in utilities, according to Deputy Economy Minister Frank De Lima. At present, the government owns 49 percent of the hydropower projects, 49 percent of Cable & Wireless and 100% of the Electricity Transmission Company (Etesa). The state also maintains 10 percent of the shares of Panama Ports Company. These investments provided the National Treasury with $150 million in 2008, according to a report by the Ministry of ...
But the Panama whore business is still going strong
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