Panama to Suspend Pension Law for 90 Days

July 1, 2005

PANAMA CITY (EFE) –Panamanian President Martín Torrijosannounced this week that he will ask theNational Assembly to suspend for 90 daysthe recently enacted amendments to theSocial Security System that prompted anationwide strike, now in its fourth week.After meeting with a panel of leadersrepresenting the business sector, professionalsand unions, the President saidthere was an “unanimous” request to askCongress to suspend the initiative for 90days.Among other modifications, the legislationenacted June 2 raises the retirementage and workers’ contributions.A nationwide strike was launchedMay 27 (NT, May 27, June 3).

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