Panama’s economic chaos threat

900Views 0Comments Posted 22/03/2020

The Covid-19 crisis has meant a blow to the economy of much of the world, including Panama. The Government's responses to the health component have been impeccable. But the economy requires more attention.

For example, Executive Decree No. 81 of March 20, 2020 seeks to provide an outlet for all parties in labor matters. In this case, the Government has claimed that a simple suspension of labor contracts will be enough to mitigate the problem of the thousands of company employees who have stopped receiving income.

The move may have been late. In less than a week we have already closed companies. The Government presented a solution that requires each employer to justify to the Labor  Ministry the need to suspend the workers, after which the authority will evaluate each case and proceed to notify its decision.

The formula suggests that everything is working normally and that companies would have the time to fill out forms and employees would wait for their situation to be decided. What happened to the informal? How are entrepreneurs or independent professionals? Those and other responses that the country needs to overcome the threat of the other disease we are facing: economic chaos. – LA PRENSA. Mar.22

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