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# Panama Opens $100 Million Earthquake Fund
- URL: https://balboa.news/panama-opens-100-million-earthquake-fund/
- Published: 2026-10-11T13:38:36.000Z
- Updated: 2026-10-11T13:38:36.000Z
- Author: Balboa News Desk
- Tags: National

Panama has declared a nationwide state of emergency and authorized up to $100 million for relief and reconstruction following the powerful earthquake that struck the country on October 9.

The Cabinet approved the declaration on Saturday through Resolution No. 108\. The measure applies specifically to damage caused by the earthquake and permits ministries and public agencies to use special acquisition procedures for emergency works, goods and services through December 31.

Purchases must be made at justified market prices. The money will be placed in a trust administered through Banco Nacional de Panamá, subject to budget availability and review by the Comptroller General. Any unused balance must be returned to the Treasury.

The resolution also authorizes the Ministry of Economy and Finance to ask the National Assembly for a temporary suspension of the financial limits in Panama’s fiscal-responsibility law. The current ceiling for the non-financial public-sector deficit is 3.5% of gross domestic product in 2026.

Legislative approval would be required before that ceiling could be suspended. The funds may come from existing budget reallocations or additional borrowing, according to the resolution.

The latest preliminary report from the national emergency operations centre counted 840 affected homes and 419 damaged public schools. Twenty-nine people sustained minor injuries, while no deaths or missing people had been reported.

The figures have changed considerably as inspection teams reach more communities and should not be treated as final. Four hundred and twenty-six residences had been evaluated when the Cabinet first presented its assessment earlier on Saturday.

Authorities have opened temporary shelters in Veraguas, Los Santos and Coclé. At least nine bridges have reported structural damage, while landslides and damaged roads have restricted access to several communities.

The Education Ministry suspended classes at every public and private school on Monday, October 12, allowing structural inspections to continue before students and employees return.

**Sources**: Presidency, La Prensa