World Bank grants loan to Panama to strengthen tax transparency

[Moderator_02]

Quote

World Bank grants loan to Panama to strengthen tax transparency

Sat, 07/21/2018 - 19:39

The World Bank granted a $100-million loan to Panama to strengthen international tax transparency, financial integrity and tax management, and improve social assistance and education programs.

The Ministry of Economy and Finance reported that the loan was signed by the Acting Minister of Economy and Finance, Gustavo Valderrama, and by the Country Manager of the World Bank, Abel Caamaño.

This $100-million loan agreement will finance "the Third Shared Prosperity Development Policy," the ministry said in a public statement.

The resources will support Panama to "continue advancing" in the development objectives referred to the "strengthening of the frameworks for international tax transparency, financial integrity and tax management".

The resources are also to "strengthen the institutional arrangements to support inclusion in social assistance and education, as well as improve the regulatory framework and sustainability in the energy sector," according to official information.

 

http://www.panamatoday.com/economy/world-bank-grants-loan-panama-strengthen-tax-transparency-7378

[Bud]

This article tweaks a bit of curiosity in me. First off, it says the $100M is a "loan". That means it is a chunk of money that needs to be paid back, and so I am curious what Panama is going to cut short or deny its citizens in order to repay this "loan". Further, $100M is a LOT of money. What is it that those funds is going to buy?

This seems off-base to me. Transparency comes from changes within a culture, to my way of thinking, not something that can be bought.

Where am I going wrong here?

[Hil]

Bud where you are wrong is; Panama does not seem to "think conservative or accountable" like non Panamanians do...........it could be true. lol