JPMorgan Positive on CentAm

JPMorgan Positive on CentAm

Panama

The economies of Costa Rica, Guatemala and Panama are keeping the effects of the global slowdown at bay, JPMorgan believes. Costa Rica’s year-to-date surplus stands at 0.8% of estimated GDP and although the Arias administration is warning that by the end of the year there will be a budget deficit equal to 0.5% of GDP, JPMorgan says risks are skewed toward fiscal outperformance. Guatemala’s accumulation of international reserves, which total $4.7bn or 10% of GDP, combined with its low external pu

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