Moody’s increased Panama’s qualification from grade BAA2 to BAA1, positioning it like a long term issuer with a stable perspective. This is the first time the country reaches such a high qualification, according to the Ministry of Economy and Finances.
The positive qualification responds to Panama’s economic growth and its fiscal indicators, that reached the goal for 2018 of closing with a 2% fiscal deficit in the Non-Financial Public Sector. This will result in continued access to investments and attractive financing plans.
According to Moody’s, the growth perspective for the country will remain solid. It is projected that the Gross Domestic Product will increase above 5% until 2022.