Press Release

The Board of the Fondo de Ahorro de Panama Re-elects its Chairman and Vice Chairman
Panama | May 24, 2016

The Board of Directors of the Fondo de Ahorro de Panama (the “Fund”) announced today that following its regular meeting, the Board elected Fred Kardonski and Jose N. Abbo as Chairman and Vice Chairman of the Board, respectively.

Mr. Kardonski has served as a Director on the Fund’s Board since 2012, and as Chairman since then.  Mr. Abbo has served as Director on and Vice Chairman of the Board since 2012.  The Chairman and Vice Chairman roles are for a consecutive period of two years.

About the Fondo de Ahorro de Panama

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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