The Moody’s Investors Service agency on Wednesday, April 15 ratified Panama’s risk rating at Baa1 with a stable outlook.

Moody’s estimates that the coronavirus pandemic will impact the Panamanian economy in 2020 with an estimated 1% contraction in gross domestic product (GDP). Both the International Monetary Fund and the World Bank calculate that the contraction will be 2%.

“Panama has in its favor the trajectory of sustained economic growth with high levels of investment and the role that the interoceanic canal has for world trade,” said Panama’s Ministry of Economy and Finance.

Source: Newsroom Panama