Eruption of loan sharks and hired killers operating in David

National and provincial authorities have been invited to a meeting to counter an eruption of loan sharks charging exorbitant interest in David, Chiriqui, says the city’s Chamber of Commerce Industry and Agriculture.

The influx of foreign lenders “dangerously mixed with the hired killers is affecting the locals in the informal sector and represents illegal competition with previously established companies,  said  Chamber  president Camilo Brenes

The invited ministers are: Rodolfo Aguilera, (Public Security) Augusto Arosemena (Commerce and Industry) and Milton Henríquez(Governmsnt) as well as the mayors of Barú, David and Bugaba, and the governor of Chiriquí, Hugo Méndez.

Brenes assured that the illicit activity is entrenched in the informal economy, offering money with high-interest rates for those Panamanians who later cannot comply.

“We run the risk of losing the social peace of the community, and that is why this meeting is important,” said the businessman.

He added that they also hope to raise this situation with the mayors because in Chiriquí there are a large number of businesses dedicated to this activity, which operate as restaurants and shops.