Political feeding trough to be replaced
Panama’s Social Investment Fund, which had become a feeding trough for politicians will be closed by the end of July says its director, Giacomo Tamburrelli.
The Fund has been the subject of several investigations after it was found that government officials were using the money intended to combat poverty, for other purposes, such as campaign funding.
Tamborelli kept the first unfavorable report which fingered members of the governing alliance as well as formera deputies, under wraps until it was exposed in the media.
He said a new agency would be created to fund programs to combat poverty. He said the new agency would be more regulated and more transparent.
Meanwhile the Comptroller General of the Republic is continuing an audit of the agency’s finances. Tamburelli said that the government is awaiting the results of the audit to determine if there were criminal actions in the handling of its finances.
President Ricardo Martinelli announced on Feb. 25 that the agency would be closed, but this is the first time that a date has been announced.
At least 20 current and former members of the National Assembly are believed to have misused agency funds.