The debt of business Group Waked to its bank creditors amounts to over than $ 300 million, said the Minister of Trade and Industry (Mici), Augusto Arosemena.
Arosemena noted that there is already a commission of all banks creditors of this business Group, which has allowed them to coordinate and conduct all proceedings in a positive and collective way.
The Minister added that what might not happen at the moment is that a bank jumps to take actions on their own, since this would cause all other creditors to also rush to recover their assets and take legal measures in a personal way.
He added that what is being sought is to work with all banks and said that expectations about the outcome of this situation are fairly positive aimed to keep active the largest number of jobs as possible.
The head of the Ministry of Trade and Industry said that what needs to be achieved is a way for creditors to allow for these businesses to keep operating, as objective number one, since failing to do this would cause the jobs to be lost and the banks not be able to get their money back.
He stressed that in this situation it is important to search for options so that the banks feel comfortable with the debts and carry out the process in an orderly manner and allow employees to continue to be paid fortnight by the end of the month of May.
He stated that these companies have a team that are managing them, who are keeping them all operational.
He added that currently, companies of Group Waked in the Tocumen Airport have a drawback because they have not been able to get a license so they can do business with credit cards.
Minister Arosemena pointed out that there is already a socially-aimed listing of all the employees of this Group, containing workers of a long length of service, so it is vital to keep them in their jobs and ensure their work rights in the worst case scenario.
He said that among the achievements that have been attained so far is the time extension of the license for the Editorial Group El Siglo and La Estrella so they can keep operating.
He added that the Department of the Treasury of United States also granted licenses to Balboa Bank & Trust and its broker-dealer house Balboa and Soho Mall, which are included in the so-called "Clinton list".
Faced to this employment situation of more than 3,000 workers belonging to this Group, Samuel Rivera, Secretary General of the Ministry of Labor, said that "things are being managed in a good way".
He further stated that they have been holding meetings and are asking the employees to keep up their confidence that their jobs will be kept.
Meanwhile, the director of Economic and Social Analysis of the Ministry of Economy and Finance (MEF), Rogelio Alvarado, said that scandals involving companies and law firms in Panama have not caused alarms or affected the performance of the National Banking Center.
Alvarado said that as of 01 April 2016, MEF has been giving weekly follow-ups on the evolution of liquidity and the deposits in the banking system, without experiencing any signs of capital flight or decrease of the liquid assets of the banks.
He added that the only change observed in liquid assets is an increase in deposits sacrificing compensation accounts balance which, in the opinion of the officer, is routine.
The international banking center assets total $117 thousand 694 million in the first quarter, 5.7% more in relation to the same period in 2015.
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