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Panama to save $30 million by issuing new balboa coins, worth a dollar each

Thursday, June 23, 2011


The emission of $40 million in new balboa coins -- equivalent to $1 each -- will save $30 million in royalties from the US Treasury.

The royalties would have had to have been paid by Panama to the US to replace damaged dollar bills. the money will now be spent on social projects.

The new coins will be in circulation in July, along with dollar bills.

 

Original source (in Spanish): Efe