Preview – Panama Senate

With the support of the groups represented in the new Senate, its president, Representative Dana Castañeda, presented the legislative initiative that expands the effect of the Discretionary Interest Law on certain mortgage loans, to buy houses for the middle class to make it possible, to generate employment. and move the economy.

The multifamily housing mortgage loans just ended on June 30, 2024, which according to Castañeda affects many young professionals who will not be able to buy their homes and apartments.

According to the advocate, what this legal instrument promotes is public policies that promote economic reactivation for the benefit of everyone, especially those who earn less monetary resources.

The head of the legislature confirmed that the various organizations are joining the legislative initiative, looking after those humble nationals who do not have the opportunity or the economic capacity that does not allow them to get a roof over their heads.

President Castañeda emphasized the importance of promoting such discussion initiatives between the government sector, the National Assembly and the private sector, such as the Chamber of Commerce.

He indicated, in particular, that this draft law will benefit many young people who are unable to complete the mortgage procedure and others who had started the purchase process. He reiterated that this situation when the favorable interest rate is gone leaves many families orphans.

This new National Assembly, said President Castañeda, is eager to discuss it and asks the private sector to participate and contribute to the discussions.

He summarized that no one can remain silent in the face of disadvantageous situations for young people who do not have the ability to get housing, their first home.