CAF Promotes Financial Literacy and Inclusion in Panama for a Better Future

Investor Day 2022 was held within the framework of the International Organization of Securities Commissions (IOSCO) World Investor Week, whose main goal is to raise awareness about the importance of financial literacy and investor protection. It was organized by the Republic of Panama Securities Market Superintendency, which seeks to share joint working synergies with the investing public and professionals who are part of the sector.

Lucía Meza, CAF representative in Panama, spoke at the closing of the event and highlighted the importance of financial literacy for inclusion and responsible banking, helping people improve their knowledge and develop skills to understand, compare and select the financial products that best suit their needs and potentials.

Meza reiterated that CAF is supporting the Panama Superintendency of Banks with a project seeking to strengthen implementation of Panama’s current National Strategy for Financial Literacy, as well as to design a National Strategy for Financial Inclusion that can establish effective instruments to chart a clear roadmap towards improving inclusion and financial literacy in the country, while conducting a survey for financial literacy and inclusion baselines or diagnoses in the country. These results have been shared in various forums throughout 2022.

Julio Javier Justiniani, Securities Market Superintendent, noted that the organization is committed to educating not only people using banking services, but also providing knowledge to young university students and future professionals with training, to benefit their extracurricular and educational activities.

The first panel, moderated by Ana Carolina Castillo, senior associate in the Corporate Law Department at Morgan & Morgan, also featured Ligia Castro, Director of Climate Change at MiAmbiente, and Christian Schneider, senior regional specialist in the IDB's Market Connectivity and Finance Division, who discussed the importance of sustainable investments and how investors must be resilient to climate change and able to adapt to the current landscape.

The second panel, moderated by Emanuel Bosquez, CASIP Member and Self-Managed Fund Administrator: Metro Strategic Income Fund, Eddie Silvera, vice president of AV Securities, as well as financial and equity advisor and general manager of AV Credit, together with Sergi Lucas, CEO of Canal Securities, discussed collective investment and what alternatives exist for investors in terms of raising capital and investment. They additionally presented several success stories related to Panamanian stability and its potential for the future.

It should be noted that CAF returned to the Panamanian market after a decade, with a USD 200 million issue for a 20-year yield, listed on the Panama Stock Exchange. This transaction is notable for its long-term yield and non-traditional structure that includes an incremental coupon over time. The Panama issue coincides with the 25th anniversary of Panama’s accession to CAF, and will allow more funds to be channeled into the country and the region in general, helping achieve the goal set by our president Sergio Diaz-Granados, of becoming the Green Bank as well as aiding Latin American economic revival, Lucia Meza said at the closing of the event.