PANAMA · ECONOMY
Key Facts
- —The country Panama links Central and South America, runs the Panama Canal and uses the US dollar as legal tender.
- —What happened On Monday 12 October, the finance ministry said Cepanim delivery resumes on Tuesday 13 October, after the 9 October earthquake halted it.
- —What Cepanim is Certificates that pay interest to people whose thirteenth-month bonus was partly withheld between 1972 and 1983, many of them now retired.
- —The numbers In June the ministry put the programme at about B/.250 million (about US$250 million) for nearly 425,000 beneficiaries.
- —Missed appointments People booked for Friday 9 or Monday 12 October will be served on Wednesday 14 October. The Monday group keeps its original time.
- —Still closed Offices in Veraguas, Coclé, Los Santos and Herrera stay shut until they are cleared as safe. No date has been set.
Panama resumes Cepanim payouts on Tuesday 13 October, four days after a magnitude 7.7 earthquake forced the finance ministry to stop handing out the certificates. They go to people, many of them now retired, whose thirteenth-month bonus was partly withheld between 1972 and 1983.
For foreigners, the restart is one sign of public services returning in Panama City, while four central provinces still wait. It also shows how the government is settling an old debt of about US$250 million with tradable certificates rather than cash up front.
Why Cepanim Payouts Stopped
The US Geological Survey recorded a magnitude 7.7 earthquake in Panama at 17:56 UTC on Friday 9 October, shortly before 1 p.m. local time. Its epicentre was 12 km west-southwest of Pitaloza Arriba, according to the agency.
TVN reported on 10 October that the Ministry of Economy and Finance (MEF) had suspended Cepanim payouts for the safety of beneficiaries and staff. La Prensa also tied the halt to the Friday earthquake.
The wider damage is covered in Panama Hit by 7.7 Quake, Tsunami Alert Issued and Panama Declares State of Emergency After 7.7 Quake.
The New Schedule for Missed Appointments
In a statement dated 12 October, the MEF said Cepanim payouts restart on Tuesday 13 October at Megápolis Outlets and the AVESA building. Both sites are in Panama City.
Beneficiaries whose Friday 9 October appointments were lost will be served on Wednesday 14 October, the ministry said.
Those booked for Monday 12 October will also be served on Wednesday 14 October, at the time originally assigned. At Megápolis Outlets, certificates for both days stay available all week, so anyone who misses Wednesday can come later.
Which Provinces Reopen and Which Wait
Cepanim payouts also restart at service points in Darién, Colón, Panamá Oeste, Chiriquí and Bocas del Toro, the MEF said. There, beneficiaries can collect all week the certificates that were not handed out on 9 and 12 October.
Veraguas, Coclé, Los Santos and Herrera are different. Delivery there resumes only once offices are cleared and safe entry for beneficiaries and staff is authorised, the ministry said.
Panamá América and El Siglo carried the same schedule on 12 October, citing the ministry. The MEF said in June that appointment notices go to each beneficiary’s registered e-mail and appear on the cepanim.mef.gob.pa portal under “Mis Solicitudes”.
How the Certificates Work
A law of 15 January 2026 and Executive Decree 19 created and regulated the certificates, according to the MEF. They pay interest on the second instalment of the thirteenth-month bonus, an extra month’s pay required by law, that was withheld from 1972 to 1983.
The ministry takes the withheld sum, based on contributions reported to the Social Security Fund, and applies 3% simple yearly interest over 34 years. A beneficiary can receive up to four certificates, one for each period worked.
Banco Nacional de Panamá, the state bank, will redeem them on 15 October of 2029, 2030, 2031 and 2032, depending on the period. Holders may sell them earlier, and gains from a sale are exempt from national taxes.
In June, the MEF said it would hand over about B/.250 million (about US$250 million) to nearly 425,000 people. One balboa equals one US dollar.
What It Means for You
Cepanim payouts are tied to work in Panama between 1972 and 1983, recorded with the Social Security Fund. Foreign retirees who held no job in Panama in those years are not part of this programme.
For investors, the design matters more than the size. The state hands out paper now and redeems it between 2029 and 2032, which spreads the cost over four budget years.
That timing matters for a government now facing earthquake repair bills, a theme covered in Panama Keeps 3.5% Deficit Cap After Quake. For US residents in Panama City, the reopening of busy service centres is one sign that routine public services are restarting.
What Is Not Known
The MEF’s 12 October statement does not say how many appointments were lost on 9 and 12 October. It sets no date for the four central provinces.
Nor does it say whether the San Félix office, listed in June for the Ngäbe-Buglé indigenous territory, has reopened.
It is unclear whether the halt will delay later Cepanim payouts, such as certificates for heirs of deceased beneficiaries, who registered separately. The statement gives no timetable beyond the week of 13 October.
More: Panama news in English, every day from The Rio Times.
Frequently Asked Questions
When do Cepanim payouts resume in Panama?
Cepanim payouts resume on Tuesday 13 October at Megápolis Outlets and the AVESA building in Panama City, the MEF said. Service points in five other provinces reopen the same day.
What if my Cepanim appointment was on 9 or 12 October?
Both groups will be served on Wednesday 14 October; those booked for 12 October keep their original time. At Megápolis Outlets, the certificates stay available for the rest of the week.
Which provinces are still closed?
Veraguas, Coclé, Los Santos and Herrera. The MEF says Cepanim payouts there resume once offices are cleared as safe, with no date yet.
Can US retirees in Panama claim Cepanim payouts?
Only people whose thirteenth-month bonus was partly withheld while they worked in Panama between 1972 and 1983, or their heirs, qualify. Retirees with no Panamanian job in those years are not covered.
Sources: Ministerio de Economía y Finanzas (MEF), statement, 12 October 2026; MEF, Cepanim regulation, 11 May 2026; MEF, delivery and amounts, June 2026; MEF, appointment notices, 15 June 2026; US Geological Survey, M 7.7 event, 9 October 2026; TVN, 10 October 2026; La Prensa, 12 October 2026; Panamá América, 12 October 2026; El Siglo, 12 October 2026.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief