The Cabinet Council, through Cabinet Decree No. 38 published in Official Gazette No. 30400 of November 6, 2025, authorized the execution of Loan Contract No. 6055/OC-PN between the Republic of Panama, represented by the Ministry of Economy and Finance, and the Inter-American Development Bank (IDB), for up to US$350,000,000.

The purpose of the loan is to provide financial support for the General State Budget for the 2025 fiscal year and subsequent years, under a "Program for the Improvement of the Pension System of the Social Security Fund (CSS) in Panama."

Multilateral financing linked to a pension system reform combines budgetary liquidity with a long-term sustainability objective — a central concern for public finances. The specific terms of the program are set out in the contract executed with the IDB.