Panama: $170 Million for Mortgage Loans

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By the end of August $73,2 million have already been lent and the goal is to double this amount, pointed Rodrigo Arosemena, General Manager of this organization.

Arosemena commented to Panamá América that "...we will focus on promoting savings and we will increase mortgages, mainly those with preferential interest or under $30 thousand."

Source: pa-digital.com.pa

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The Panamanian government has extended for another five years preferential mortgage loans previously registered with the Department of Revenue.

A press release from the Ministry of Economy and Finance of Panama reads:

Preferential mortgage loans previously registered with the Department of Revenue of the Ministry of Economy and Finance, are to be extended for five more years, as was established by Act 8 of 2010 and as has been regulated by Executive Decree # 539 of 30 November 2011. The standard applies to loan contracts which are in the first ten years of their term at the date when the regulation becomes effective.