Risk-rating agency reports raise concerns in Panama

According to the National Council of Private Enterprise (Conep), recent reports presented by risk rating agencies and financial institutions have caused significant concern in Panamanian society.

“This disturbing news joins the water crisis facing the Panama Canal and issues whose attention is inexplicably postponed. The crisis of the disability, old age and death program of the Social Security Fund and the situation of the mining contract, continue to gravitate on the list of things that are not faced with determination,”  a statement said.

In the midst of the aforementioned crisis, businessmen proposed a series of alternatives to face it. They point out that one of the transversal elements that we define is the simplification of procedures and the effective reduction of  State bureaucracy.

“In fundamental issues, we propose promoting agribusiness, tourism, encouraging research and technical education, guaranteeing an education that gives our young people the tools to face life successfully, in addition to other measures,” they stated.

They added that it is essential to create an adequate climate to attract investments and guarantee that they are developed without obstacles or illegitimate pressures, always under a legal framework that is respected.

“An austere State, which applies the law without distinction and which promotes public policies that stimulate investment, is essential for our growth to be stable and sustainable. We once again urge the authorities to clearly explain the observations made in the recently issued reports by some financial organizations.”