Canada mints 4 million Red Cross balboas for Panama
Another four million one balboa coins came into circulation Panama on Thursday, June 20, adding to the 80 million already in circulation The Balboa is on par with the US dollar
The new coins are allusive to the celebration of the one hundred years of foundation of the Panamanian Red Cross (1917-2017).he coins carry the Red Cross logo and an image of volunteers in action. The Panamanian Red Cross was founded in 1917.
In addition to the four million coins in the denomination of a balboa, other collectibles were also minted, with a sale price of $60.00,
The funds, after deduction of the expenses generated by the coinage to the National Bank, will be transferred to the Panamanian Red Cross exclusively for works and programs aimed at humanitarian assistance.
“The currency is a way of recognizing the effort and work of all the volunteers who have worked in the Panamanian Red Cross and that the population knows more about the institution,” said its vice president, Eliseo Ríos.
During the administration of President Juan Carlos Varela, there have been several minting of commemorative coins.
The Cabinet Council last year approved the contracting of the Canadian state-owned company Royal House of the Currency of Canada (supplier of the coinage of fractional coins of Panama during the last 25 years) to carry out the printing of millions of metallic fractional coins and legal tender in Panama.
