Moratorium Law on Loans Granted by Banks, Financial Companies and Cooperatives - Panama

The law dictates economic and financial measures to counteract the effects of Covid-19 in the Republic of Panama and establishes a moratorium on loans granted by banks, cooperatives and financial institutions, both public and private, for natural and legal persons economically affected due to to the national emergency due to the pandemic. The moratorium is extensive on residential, personal, car mortgage loans, credit cards, loans to small and medium-sized businesses, commercial loans, in addition to loans granted to the transportation, agricultural and consumer credit sectors.