No further minting of the “Martinelli” Balboa

Panama’s Balboa coin colloquially known as   “the Martinelli”  and on par with the US dollar will not be reminted according to, the Minister of Economy and Finance (MEF), Hector Alexander.

Panama authorities have been deluged with complaints from consumers unable to access machines dispensing tickets and transportation cards.

Alexander  says , the paper money of a dollar has provided strength to the Panamanian economy for a long time.

During the of Ricardo Martinelli administration, a total of 40 million balboa were minted, in Canada and a further 60 million. Including a series of commemorative coins. during the Varela reign

The average production cost is 30 cents per coin, including delivery to Panama. The useful life of the coin is at least 20 years. A paper dollar is has a two-year life span.