The State Provides a Guarantee of Up to US$696.8 Million for Metro de Panamá
The Cabinet Decree guarantees future payment obligations tied to certificates under the Metro's contract.
The Cabinet Council, through Cabinet Decree No. 34 published in Official Gazette No. 30364 of September 12, 2025, authorized the State, acting through the Ministry of Economy and Finance, to issue one or more guarantees totaling up to US$696,809,809.77.
The guarantees secure future payment obligations arising from the deferral of payment on certain Non-Objection Certificates (CNOs) by Metro de Panamá, S.A., associated with Contract No. MPSA-12-2020 of October 29, 2020, plus structuring costs and interest.
The State's backing of Metro's obligations constitutes a contingent fiscal commitment linked to the financing of mass transit infrastructure. Its impact on public accounts will depend on the execution of the guaranteed payments.
Sources
- Gaceta Oficial N° 30364 (12/09/2025) — Decreto de Gabinete N° 34 (aval a Metro de Panamá)