The The Budget Committee of the National Assembly approved the Ministry of Economy and Finance (MPF)two case transfers totaling $40,995,928.00
He Deputy Minister of Finance, Jorge Luis Almengorwho supported the transfers, assured that “both have a source of financing from savings for debt repayment, so it is practically an internal redistribution of the budget to settle obligations”.
The first transfer amounted to USD 38,509,350.00 corresponding to debt servicing, to strengthen loan repayment items from the Inter-American Development Bank (IDB) for a total of USD 8.5 million, due to adjustments in the contract repayment schedule and changes in the strategy of the executive unit in post-preparation loan activities or programs The 2023 budget project.
The same payment will reinforce the interest title loans from the IDB, the Development Bank of Latin America (CAF) and the Multilateral Investment Guarantee Agency (MIGA) for a total of 28.7 million dollars, due to the global trend of interest rate growth, during the first half of 2023.
Second departure transfer for $2,486,578.00 in favor State Budget Administration (DIPRENA) aims to strengthen the quotas to multilateral organizations, in order to comply with the first payment from 2023 of the validity of the Agreement signed between the MEF and the United Nations Development Program (UNDP), for the purpose of developing the project “Management based on results: Eliminating shortcomings through efficiency and transparency , stressed the deputy minister.
The results-based management project aims to promote modernization the country of panamathrough the implementation of results-oriented and evidence-based management approaches that strengthen the efficiency of public spending and promote sustainable development, and even through articulated policies.
Source: Panama America
I am Jason Root, author with 24 Instant News. I specialize in the Economy section, and have been writing for this sector for the past three years. My work focuses on the latest economic developments around the world and how these developments impact businesses and people’s lives. I also write about current trends in economics, business strategies and investments.
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