The Ministry of Economy and Finance (MEF) will soon set up an asset management office to combat illegal or criminal activities.

The office aims to look after assets seized and/or recovered as part of the fight against money laundering, according to Noticias.

According to the source, strengthening the institution's capacities in these areas will contribute to the country's financial stability, international credibility and sustainable development.

The Council of Ministers recently approved changes to the presidential decree defining the MEF's powers and duties.

The approval will adapt the institution's responsibilities to new developments, reinforcing transparency and good governance in crucial areas.