The Panama Government has closed a loan of US $ 1,290 million with two years expiration with A Bank of America subsidiary, the Ministry of Economy reported on Thursday in a statement.
The Ministry indicated that the financing, which will be disbursed at its equivalent in dollars, was authorized on Friday.
According to the Ministry of Economy and Finance of Panama, MEF, the loan will serve to partially solve the estate liquidity needs of the General State Budget for fiscal year 2025 and subsequent fiscal yearsguaranteeing the continuous execution of key projects and the provision of essential services for the country.
This financing has a expiration period of two years and an annual interest rate that is calculated based on the Euribor to six monthsS, which is currently at an approximate value of 2.35%. To this rate is added a margin of 2.11%, which results in a total interest rate of 4.46%.
