The Panama Savings Fund (FAP), the "piggy bank" created to support the country in difficult times, reached US$3,028.8 million, the highest level since its creation in 2012. This jump occurred after an exchange carried out in the last days of September, when the FAP converted the promissory notes that the Government had given it in 2024 into State bonds. A few days ago, the FAP announced the incorporation of Enrique Ho as Investments & Risks Manager. It is unknown who might replace Santiago in the position; SNIP News consulted with Panama's Minister of Economy and Finance, Felipe Chapman, but he said he was unaware of the information. After about 12 years in the position, Abdiel Santiago, Technical and Executive Secretary, will leave his position at the Panama Savings Fund (FAP) effective December 4, 2025, as part of a planned transition. Santiago has been the first and only person to hold this position since the FAP was created. The announcement, which will be made this Friday, highlights Santiago's performance during this time and indicates that he has decided to accept a position in asset management outside Panama; however, he has also agreed to remain as an ad honorem strategic advisor to the Board of Directors and the FAP, in order to ensure continuity and support an orderly transition. Under his management, the FAP's assets grew from about US$1,200 million to nearly US$3,100 million.
