Standard & Poor's raises Panama outlook to positive

Ratings agency Standard & Poor's has improved Panama’s outlook from stable to positive.

As a result, the country's BBB risk rating is now based on factors such as “high and consistent economic growth and a stable fiscal policy”.

According to the Ministry of Finance, the agency recognized ”the progress made by Panama in recent years for the automatic exchange of tax information with 33 countries and changes in legal regulations to improve transparency in the financial system.”