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Saturday, January 16, 2010

Standard & Poor roses Panama debt risk rating

Recently Standard & Poor roses Panama debt risk rating from BB+ with stable perspective to BB+ with positive perspective. This means that Panama debt is only a step of the so-called investment degree. Achieve this investment degree, the Panama debt cost could decrease because lower interest rates of global bonds because Panama would be see as a low-risk sovereign country. In fact, the iceberg tip began to see when the Panama Government, taking advantages of the improvement of the risk rating, issued global bonds for thousand millions of dollars reaching rates significantly lower than the current.

The Panama Government is using this money to pay off an old debt with the Panama National Bank (Banco Nacional de Panamá) and the Social Security Fund (Caja de Seguro Social). This means that you would be injecting money to these public entities. It is likely that the Social Security Fund invest that money in private instruments or of the Government. In the case of the Panama National Bank, it would use it to provide, which would substantially improve the supply of credit of the banking system National, which from January to October it has contracted in 15% year on more

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