Credit card debt in Panama surges by 22 percent

Credit card debt continues to rise in Panama with many card users earning less than $800 a month, facing usurious  charges. The cards have become the vehicle is used by thousands of Panamanian to finance expenses such as unforeseen medical bills.

In July, the balance on credit cards was $1.8 billion, representing an increase of a 21.6 percent when compared with the balance of July 2015, which was $1.5 billion.

Source: Newsroom Panama