Business execs warn of collapse if reopening delayed

The Panamanian Association of Business Executives (Apede) has  added its voice to the growing callid for the reopening of the Panamanian economy after over five months of stagnation due to the COVID-19 andemic

On Sunday, August 23,  a statement  from the union  said: “It is urgent that we direct all our efforts to the distribution of economic and social activity in the country with a rigorous contagion traceability plan and greater discipline and responsibility in self-care.”

They emphasize that a plan is needed that allows the subsistence of companies, facilitates entrepreneurship and innovation, generates trust and encourages private investment.

Apede questioned that there are 10 law proposals in the National Assembly that they consider threaten free enterprise and legal security.

 It also notes  that no less than nine appeals have been processed, between guarantees of guarantees and nullity claims, in the Supreme Court .

They warn that a number of restrictions on constitutional guarantees have been issued through decrees and resolutions, and  declare that  “If we don’t, we will see how the democratic fabric is destroyed and the national productive system collapses.”

“After 5 months, it is urgent to recover the constitutional and legal order that governs us as a nation to guarantee a state that maintains order and prevents a social outbreak that at this time seems imminent.”

“It is essential that the opening of restricted activities take place in the short term, ensuring that the established health processes are manageable, transparent, expeditious and easy to implement”

The business group said  that the projection is that 2020 will close with 25% unemployment, “a figure that could increase if we do not act quickly, judiciously and forcefully.”