Press Release

Law Project No. 138 that seeks to modify the Accumulation Rule contained in the Law that creates the Fondo de Ahorro de Panamá 

Panamá | October 17, 2024

In response to various inquiries regarding Project Law No. 138, recently presented by the Ministry of Economy and Finance (“MEF”) to the National Assembly, the Board of Directors of the Fondo de Ahorro de Panamá (“FAP” or “Fund”) wishes to inform the public that it was not consulted on the contents of this bill.

Recognizing the importance of the FAP as a key asset for the country, we have formally requested a meeting with the Minister of the MEF to foster dialogue and to better understand the objectives and rationale behind this legislative proposal.

About the Fondo de Ahorro de Panamá

The Fund was created by Law 38 of June 5, 2012, whose main objectives are:

1. Establish a long-term savings mechanism for the Panamanian State; and

2. Establish a stabilization mechanism in case of a state of emergency (declared by the Cabinet’s Council) and economic slowdowns.

Contact: Administration, +507-394-5776/5706, administrador@fondoahorropanama.com

For additional information visit www.fondoahorropanama.com

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