05 May 2020 – Loan moratorium extended until December 2020

Type of Intervention: Financial and Economic
Sectors Involved: Finance/Economy
Intervention Categories: Finance policy and financial aid; Monetary and macro-financial policy
Level of Jurisdiction: National
Lead People/Agency: https://elcapitalfinanciero.com/moratoria-bancaria-se-extiende-hasta-el-31-de-diciembre-de-2020/

Overview: The complexity of the current scenario due to the CoVid-19 pandemic, requires a sacrifice from all sectors, which is why the Panama Banking Association has decided to extend and adopt new financial relief measures in addition to those already established in March 2020.
Measures: extend the moratorium until December 2020 of mortgage loans, personal loans, cars loans, credit cards, loans to SMEs, commercial, transport and agricultural sectors.
Additionally, the commitment is maintained that no Panamanian affected by the pandemic will lose their home.
Residential mortgage guarantees will not be enforced on clients whose loans have been deferred.
As of April 20, 2020, the measures previously implemented benefited more than 556 thousand people and their families, independent, companies and entrepreneurs, representing agreements and renegotiations for the sum of US $ 12.5 million.
Full details here: https://asociacionbancaria.com/acuerdo-de-extension-de-moratoria/

Type of Justification: No justification given