According to a statement from that organization, the initiative defended by the President of the Republic, José Raúl Mulino; and the Ministers of Health, Fernando Boyd; and of Economy, Felipe Chapman, after alleging for years that there was no money and that the retirement funds of the mixed system could not be merged with the solidarity one, now does so and creates a General Reserve Fund.

Once that body is constituted – after discovering that there are billions of dollars available – Polo Ciudadano says, it will be handed over to a private administrator who will be able to invest it in Panamanian debt securities, the United States and other credit instruments issued by foreign states, and up to 10% in capital instruments of legal entities.

If passed, the law would also allow the resources to be invested in “national projects through generally licensed banks authorized by the Superintendence of Banks.”

Articles 67, 68 and 69 also develop other ways of plundering the management of these funds by private capitalists, the message of Polo Ciudadano, which is headed by professor Olmedo Beluche, adds.

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