JP Morgan reduces risk of credit downgrade for Panama and raises economic growth forecast

According to a JP Morgan report published in various media this Monday, it indicates that Panama, after having faced many challenges since the Covid-19 crisis, is less likely to see a downgrade in investment grade as initially feared. .

“Positive news is starting to emerge and we now think that the timing of a possible downgrade could be longer and the chances of it happening lower,” says JP Morgan.

JP Morgan's analysis also improved the gross domestic product (GDP) growth forecast for this year, raising it from 0.5% to 3.5% year-on-year.