Fitch Raises Panama's Debt Rating

The way the government has structured its debt and the economic boom the country is experiencing are some of the elements that justify the improvement in the rating given by Fitch Ratings.

In addition, banking stability and political consensus among political parties on the economic direction that the country should take have also influenced the revision of the grade.

Fitch Ratings reported in a statement: "The momentum of growth in Panama has surpassed that of most of its peers, and this trend is expected to continue, said Shelly Shetty, Head of Soberanos de Latinoamérica. In fact, growth in 2010 exceeded expectations by reaching 7.5% and Fitch projects a robust growth of 7% in 2011 and 2012. Panama grew by an average 8.1% between 2004 and 2009, despite slowing to 3.2% in 2009 amid the global financial crisis.

Source: Fitch Ratings Centroamerica

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