Unions take the initiative in pension reform, ACP land-buy delay, Torrijos to run in 2024, and civil forfeiture draft rejected (another setback for Cortizo)

PANAMA - Report 01 May 2023 by Marco Fernandez

Last week, CONATO, the country's most powerful union association, presented a proposal to the Legislative Assembly to solve the short-term cash deficit of the defined-benefits sub-system (SEBD) by consolidating its assets with those of the private account sub-system. We analyze the implications and the political possibilities of this proposal. We also follow the possible land purchase transaction between the ACP and the Central Government. The first official presidential candidate, Martin Torrijos, has entered the political arena. As we anticipated, the civil forfeiture draft sent by Cortizo to the Legislature suffered another setback when some official and opposition legislators abandoned the discussion for the third time, a clear sign that corruption will be a difficult issue to tackle in the future.

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