Makrognosis

Panama Credit Rating & Sovereign Risk Score

Model scoreCode CREDIT:PA

Model score58 / 1009 Nov 2026
Grade equivalentBBBmodel-implied
BandInvestment grade0–100 scale, 100 = strongest
Rank50th of 84economies scored

Makrognosis sovereign credit model scores Panama at 58 out of 100 as of 9 November 2026, equivalent to BBB on the familiar letter scale — investment grade.

The score is unchanged from the previous assessment on 1 October 2026.

That places Panama 50th of the 84 economies the model scores; Russia has the highest score at 100.

Key inputs include government debt of 65.4% of GDP, a fiscal balance of −3.9% of GDP, a current account balance of −0.2% of GDP.

This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.

Panama sovereign credit score (0–100), 18 Jun 2026 – 9 Nov 20264045505560Robomacro
Panama sovereign credit score (0–100), 18 Jun 2026 – 9 Nov 2026. Source: Makrognosis sovereign credit model.

Score history

Assessment dateScoreGrade equivalent
9 November 202657.7BBB
1 October 202657.7BBB
31 July 202657.7BBB
30 July 202645.0BB
26 July 202644.3BB
21 June 202657.5BBB-
18 June 202653.5BBB-
Get the Panama sovereign risk score in your code

Score, grade equivalent and inputs for 84 economies. Free tier available.

curl -H "X-API-Key: $MAKROGNOSIS_KEY" \
  "https://makrognosis.robomacro.com/v1/credit/PA"

# Python
import requests
r = requests.get("https://makrognosis.robomacro.com/v1/credit/PA",
                 headers={"X-API-Key": KEY})
score = r.json()["headline"]["score_0_100"]
Get a free API key → · API docs

What drives the score

The model's published inputs for Panama, from official national and international statistics.

InputValueVintage
GDP per capitaUS$19,7902026
Real GDP growth, 5-year average8.2%2026
Inflation, recent average1.4%2026
Government debt65.4% of GDP2026
Fiscal balance−3.9% of GDP2026
Current account balance−0.2% of GDP2026
Foreign-exchange reserves1.7 months of imports2026
Governance (World Bank WGI composite)0.009932026

How Panama compares

#EconomyAs ofScore
1Russia9 Nov 2026100
2Turkey9 Nov 2026100
3Denmark9 Nov 202698
4Switzerland9 Nov 202696
5Netherlands9 Nov 202695
45Kuwait9 Nov 202660
46Romania9 Nov 202660
47Hungary9 Nov 202659
48Ghana9 Nov 202659
49Argentina9 Nov 202658
50Panama9 Nov 202658
51Trinidad and Tobago9 Nov 202657
52Bulgaria9 Nov 202657
53Jordan9 Nov 202657
54Guyana9 Nov 202657
55Thailand9 Nov 202657
56Bahrain9 Nov 202656

All 84 economies ranked →

Panama economic indicators

Panama Inflation Rate (CPI)Panama Government Debt to GDPPanama Gross SPNF public debt, USD million (MEF DFP Grafica 3, year-end)

FAQ

What is Panama's credit rating?
Makrognosis sovereign credit model scores Panama at 58/100 as of 9 November 2026, equivalent to BBB (investment grade). This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.
How is the sovereign risk score calculated?
A statistical model scores each economy from published inputs — government debt and fiscal balance, current account and external debt, GDP per capita and growth, inflation, reserves and governance — on a 0–100 scale where 100 is the strongest credit. It is re-run as the inputs update.
Where can I get the data?
Through the Makrognosis API: GET /v1/credit/PA returns the score history and inputs; /v1/credit/universe lists every economy.

This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.

Last assessed 2026-11-09. Source: Makrognosis sovereign credit model.