The general manager of the Panamanian Credit Authority (APC), Giovanna Cardellicchio, highlighted that in Panama there are several sectors that are being reactivated and returning to have an income generation, however, we still cannot say that they are recovered because we are not in the figure for the year 2019.
He referred to consumer credit, which is managed by the APC, revealing that between 2018 and 2019 it grew 6.34%, after 2019 to 2020 it grew 1.47% and for 2020 to 2021 it has grown 3.13%, that is, the economy is being reactivated , but we have reached pre-pandemic levels.
“The total debt, which is not the same as delinquency. The indicators that concern us is delinquency, which is when the debt cannot be paid and it is the situation of Panamanians today. The total debt of Panamanians is around $ 36 billion, it is what natural persons owe, not companies. In the system we have around 1.9 million Panamanians and foreign residents, if I divide that, it gives me around $ 18,500 thousand per person ”, he explained.
However, the delinquency of the system is around 5.5% to 6%, that means that only 6 out of every 100 people in Panama are having problems paying their debts.
He clarified that this is influenced by the fact that Law 156 of 2020, called the moratorium law and which was approved in the midst of the pandemic by the Executive, has prohibited people’s credit histories from being affected, as long as they have disclosed their situation before economic entities such as loss of job, reduction of hours or suspension of contracts. “When they do this, they can no longer make you delinquent. That law, despite the fact that for financial institutions it has already ended, in the case of APC, article 7 says that this law will be in force until 60 days after the state of national emergency is lifted, that is, it is not yet expired. for us that law ”, remarked Cardellicchio.
