Panama’s banking sector warns of higher borrowing costs

Panama’s banking sector warns of higher borrowing costs

Rodrigo Julio Molina

The Panama Banking Association is warning that global economic volatility, rising prices for goods and services, and geopolitical tensions continue to put pressure on inflation.

This environment could lead to a higher cost of money and increased interest rates, affecting financial products such as credit cards, personal loans and auto financing, among other forms of credit.

Consumers and businesses should pay close attention to the cost of new financing and the terms of their existing debt.

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